VILNIUS — To help continue upgrades to their services, Lithuanian Railways (Lietuvos Geležinkeliai) has raised more funds from its sole shareholder, the government.

The company, managed by the transport ministry, is responsible for the management of freight and passenger transport by rail in Lithuania. It has seen usage increase by one-fifth during the first four months of the year.

Domestic transport [private_supervisor]decreased over the period, but international transport went up by one-third, carrying increased cargo from the Klaipėda port to and from Belarus and Russia as the downturn in other countries eases. Within the first four months of this year the company transported 15.8 million tons of cargo, which is 20.9 percent more than the same period of last year.

An extra 355.15 million litai (€91.35 million) has been raised to help the company implement its investment projects, Vice Minister of Transport and Communications Arūnas Štaras said. The company’s authorized capital increased from 2.15 billion litai to 2.50 billion litai.

The authorized capital of the company was also increased in January. Also, the European Investment Bank recently announced that it would lend the company €20 million to buy 10 new locomotives from Samsung.

Lithuanian Railways needs funding to implement infrastructure upgrades because its revenue has declined so sharply over the last year. In 2009, because of the loss in exports for the country, the rail company lost 26 percent of its trade, compared year-on-year with 2008.

In Lithuania as well as Latvia and Estonia the railway system remains underdeveloped compared to most Western European countries. There are currently no passenger lines connecting Vilnius, Riga and Tallinn. Meanwhile the region’s Soviet-era track grade has prevented integration with the Polish railway system, something the Rail Baltica project is seeking to remedy. [/private_supervisor] [private_subscription 1 month]decreased over the period, but international transport went up by one-third, carrying increased cargo from the Klaipėda port to and from Belarus and Russia as the downturn in other countries eases. Within the first four months of this year the company transported 15.8 million tons of cargo, which is 20.9 percent more than the same period of last year.

An extra 355.15 million litai (€91.35 million) has been raised to help the company implement its investment projects, Vice Minister of Transport and Communications Arūnas Štaras said. The company’s authorized capital increased from 2.15 billion litai to 2.50 billion litai.

The authorized capital of the company was also increased in January. Also, the European Investment Bank recently announced that it would lend the company €20 million to buy 10 new locomotives from Samsung.

Lithuanian Railways needs funding to implement infrastructure upgrades because its revenue has declined so sharply over the last year. In 2009, because of the loss in exports for the country, the rail company lost 26 percent of its trade, compared year-on-year with 2008.

In Lithuania as well as Latvia and Estonia the railway system remains underdeveloped compared to most Western European countries. There are currently no passenger lines connecting Vilnius, Riga and Tallinn. Meanwhile the region’s Soviet-era track grade has prevented integration with the Polish railway system, something the Rail Baltica project is seeking to remedy. [/private_subscription 1 month] [private_subscription 4 months]decreased over the period, but international transport went up by one-third, carrying increased cargo from the Klaipėda port to and from Belarus and Russia as the downturn in other countries eases. Within the first four months of this year the company transported 15.8 million tons of cargo, which is 20.9 percent more than the same period of last year.

An extra 355.15 million litai (€91.35 million) has been raised to help the company implement its investment projects, Vice Minister of Transport and Communications Arūnas Štaras said. The company’s authorized capital increased from 2.15 billion litai to 2.50 billion litai.

The authorized capital of the company was also increased in January. Also, the European Investment Bank recently announced that it would lend the company €20 million to buy 10 new locomotives from Samsung.

Lithuanian Railways needs funding to implement infrastructure upgrades because its revenue has declined so sharply over the last year. In 2009, because of the loss in exports for the country, the rail company lost 26 percent of its trade, compared year-on-year with 2008.

In Lithuania as well as Latvia and Estonia the railway system remains underdeveloped compared to most Western European countries. There are currently no passenger lines connecting Vilnius, Riga and Tallinn. Meanwhile the region’s Soviet-era track grade has prevented integration with the Polish railway system, something the Rail Baltica project is seeking to remedy. [/private_subscription 4 months] [private_subscription 1 year]decreased over the period, but international transport went up by one-third, carrying increased cargo from the Klaipėda port to and from Belarus and Russia as the downturn in other countries eases. Within the first four months of this year the company transported 15.8 million tons of cargo, which is 20.9 percent more than the same period of last year.

An extra 355.15 million litai (€91.35 million) has been raised to help the company implement its investment projects, Vice Minister of Transport and Communications Arūnas Štaras said. The company’s authorized capital increased from 2.15 billion litai to 2.50 billion litai.

The authorized capital of the company was also increased in January. Also, the European Investment Bank recently announced that it would lend the company €20 million to buy 10 new locomotives from Samsung.

Lithuanian Railways needs funding to implement infrastructure upgrades because its revenue has declined so sharply over the last year. In 2009, because of the loss in exports for the country, the rail company lost 26 percent of its trade, compared year-on-year with 2008.

In Lithuania as well as Latvia and Estonia the railway system remains underdeveloped compared to most Western European countries. There are currently no passenger lines connecting Vilnius, Riga and Tallinn. Meanwhile the region’s Soviet-era track grade has prevented integration with the Polish railway system, something the Rail Baltica project is seeking to remedy. [/private_subscription 1 year]

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