European loan supports Lithuanian fleet expansion

The European Investment Bank has issued a loan worth 50 million euro to help fund the purchase of new rolling stock for Lithuania.

The funds will allow Lithuanian Railways to buy nine new passenger trains – three diesel-powered vehicles and six EMUs – and 590 new freight wagons.

To date, the EIB has agreed three loans to support the modernisation of both Lithuania’s rail infrastructure and rolling stock.

Stasys Dailydka, director general of Lithuanian Railways said: “We must constantly renew our fleet, because failing to do so will leave us with few good to use wagons in 5-6 years from now.

“We are reacting to requests from our clients as well as growing demand for security and we seek to stay in competition.”




Continue reading...