LDZ revises its investment projects
As the drop in railfreight volumes, which started already in the first half of 2019, continues, and taking into account the inability of Latvian Railways (LDZ) to balance its finances in 2020 without additional funding from the government budget, LDZ has revised its plans for future and ongoing projects that are co-financed by the European Union’s (EU) structural funds.
The railway company had planned to implement two closely interrelated projects: “Development of the Daugavpils reception park and an access road” and “electrification of the Latvian railway”. These projects were planned and prepared at a time when 45 to 55 million t of freight were carried by rail infrastructure annually. Now the situation has substantially changed, said LDZ. (ben)