On 21 June 2024, Rail Baltica Business Network Estonia (RBBN) held its annual meeting in Tallinn. In addition to discussing and approving the previous year’s annual report, the meeting also heard from guest speakers – State Auditor Janar Holm and Anvar Salomets, Chairman of the Board of Rail Baltic Estonia OÜ.
Janar Holm gave an overview of the recently completed joint audit of the Estonian, Latvian and Lithuanian national audit offices on Rail Baltica, which concludes that an estimated 19 billion euros are needed to complete the Rail Baltica project in full.
Holm acknowledged that the planned reduction of the initial scope of the project would cut the expected budget deficit by almost half by 2030 for the three countries in total, but expressed concern about the lack of clarity about the sources of financing. He pointed out that a number of key agreements necessary for the start of train services on the new railway in 2031 (joint infrastructure management, operation and, if necessary, additional financing) have yet to be concluded between the project partners.
Anvar Salomets, chairman of the board of Rail Baltic Estonia OÜ, summarised the results of the updated feasibility study on Rail Baltica, which concluded that the RB is an economically viable project with an estimated net positive direct impact of €6.6 billion. According to the study experts, the overall progress of the RB project to date is such that the Rail Baltica rail link could become operational in 2030.
Looking back on the past year of RBBN’s activities, Tõnis Tamme, a board member of the association and partner at TRINITI law firm, said that “the Rail Baltica Estonia business network has continued to serve as a bridge between businesses interested in RB and the organisations developing the RB project”.
In addition to the quarterly seminars, last year the Business Network also completed a study visit to Latvia. The RBBN business delegation visited the headquarters of the Baltic joint venture RB Rail AS, met with Latvian entrepreneurs and saw for themselves the progress of the construction works of the new Riga main railway station and the Rail Baltica passenger terminal at the Riga International Airport.
The Rail Baltica Business Network Estonia, a non-profit organisation, was established in 2015 to give businesses a better voice in issues related to the new Rail Baltica and to involve the business community early in the development of Rail Baltica and the mapping of related business opportunities. At the time of the annual meeting, 26 companies and organisations are members of the business network, of which 2 are supporting members.
