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EU GIG delegates (part of Global Insulator Group) took part in the international forum within “RAIL BALTICA” project on April 24-25. Its aim was negotiations on project’s economic potential, procurement regulation and organization, as well as facilitation of suppliers' networking.
Top executives, rail, logistics and economics professionals, influential politicians as well as more than 500 potential suppliers from across Europe took part in the event. RAIL BALTICA is a unique trans-national infrastructure project to form the new economic corridor, which will closely connect the North East of Europe with the rest of the Union. Project provides building of long distance railway with standard gauge for freight and passenger traffic. Rail distance is 870 km at speed of railway traffic up to 240 km/h. New railway network will connect three Baltic countries with European Union crossing through Helsinki (Finland), Tallinn, Pärnu (Estonia), Riga (Latvia), Panevez, Kaunas, Vilnius (Lithuania) and Warsaw (Poland).
Project value is rated 5.79 billion euro with economic viability 6.32%. Mr Nauris Klava, director of Ernst & Young Baltic, who made an analysis of costs and profits, said it is 5% higher the limit of EU financial package. It is expected that EU will finance 4.634 billion euro costs. As a result three Baltic countries will pay in 1.154 billion euro.
Works have been started in 2015 and Baltic Rail is thought to be finished by the year 2025. Project implementation of energy connectivity is planned for 2019.
“Total purchase volume of products manufactured by EU GIG for the new project is rated approximately 2 400 000 euro. Global Insulator Group expects to deliver 4 200 pieces of composite insulators on site of the RAIL BALTICA project, - said sales manager Igor Pac. – Procurements will be performed in accordance with regulations established by members of RB Rail (company supervises over the project). Their members repeatedly stressed in their reports that the price of the supplied product is rather important but the primary preference will be given to the product quality under visibility of tenders being unchanged”.