It is still possible that the diesel train modernization project of the Latvia’s rail passenger operator, Pasazieru vilciens, may fail to receive the European Union’s financing, as Pasazieru vilciens CEO Andris Lubans said in an interview with Latvian State Television.
The situation has not changed much from May, said Lubans.
Pasazieru vilciens has been making all due payments and observing its other obligations on time, therefore whether the project is implemented by the deadline – the end of 2015 – depends on the company contracted for the train modernization process.
The project has fallen behind schedule, but Lubans nevertheless hopes that the EU funding will not be jeopardized. In May Pasazieru vilciens informed the Transport Ministry that the diesel train modernization process may be significantly delayed, furthermore, the situation is made complicated by the fact that EUR 13 million in this project was co-funding from the EU.
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