The Rail Baltica project was launched in 2014 as a pan-Baltic joint venture with financing primarily provided by the European Union, aiming to enhance connectivity among Tallinn, Riga, and Vilnius. Despite initial plans estimating costs at 3.5 billion euros, recent audits indicate that the project's expenses may rise up to 19 billion euros, highlighting significant challenges in meeting budget expectations as stakeholders push for timely completion.
Vladimir Svet, the Estonian infrastructure minister, emphasized the need to monitor cost growth and explore efficient building methods during a joint meeting about the Rail Baltica project, reiterating the commitment to start passenger and freight traffic by 2030. This ambitious timeline reveals ongoing optimism about fulfilling a critical transportation link, despite substantial financial hurdles.
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