The Latvian state will invest 650 thousand euros in the fixed capital of the state-owned company

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The Latvian state will invest 650 thousand euros in the fixed capital of the state-owned company “Eiropas dzelzceļa līnijas”, which will then invest this amount in the capital of the joint venture RB Rail, the government of Latvia decided on Tuesday.

Eiropas dzelzceļa līnijas is the Latvian shareholder of the joint venture of the three Baltic countries RB Rail, established for the implementation of the project of the high-speed rail line Rail Baltica.

The shareholders meeting of RB Rail on August 22, 2018 decided to increase the share capital of the company by 3 euros, issuing three new dematerialized registered shares with a par value of 1 euro, so that after the increase, the share capital of RB Rail would reach 1,950,012 euros. The margin on the issue of each new share is 649,999 euros, the total selling price of all new shares is 1,950,000 euros.

On January 1, 2018, the share capital of Eiropas dzelzceļa līnijas was 2,720,000 euros and was formed by 2,720,000 simple shares with a par value of 1 euro. After increasing the share capital of the company will be 3 370 000 euros.

The Rail Baltica project worth 5.8 billion euros is planned for implementation by the end of 2025.

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