TRINITI advised the foundation of Rail Baltic Joint Venture
On October 28 the Estonian, Latvian and Lithuanian holding companies signed an association agreement of RB Rail AS – the joint venture of the three Baltic states to develop the new passenger and cargo railway from Tallinn to the Lithuanian-Polish border.
The company’s head office will be located in Riga, the capital of Latvia and its principal activity will be design, construction and international marketing of the new 1,435 mm gauge railway. The Rail Baltic will be the largest joint project in the history of the Baltic countries. Law Firm TRINITI advised the negotiations of the joint venture as a legal expert and provided advice on the registration of the new company in Latvia.
TRINITI Estonian partner Tõnis Tamme explained: “The negotiations started in August 2013 and although they were long and at times difficult, it was also to be expected because the new railway already called “the Baltic project of the century” concerns all three Baltic States as well as Finland and Poland. Its complexity and cost (nearly 4 billion euros) make it a unique enterprise in this part of the world”.
Rail Baltic is an environmentally-friendly and fast electrified railway connecting the Baltic States and Finland to the rest of Europe. Supported by the European Union funds, preparations for the project (planning, design, financing, etc) are gathering momentum and the actual construction works are estimated to start in 2017/2018.
The association negotiations of the Rail Baltic joint venture were advised by TRINITI Estonian partners Ergo Blumfeldt and Tõnis Tamme, legal matters concerning the founding procedures of the new company were co-ordinated by TRINITI Latvian partner Anri Leimanis.