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Tuesday 26.09.2017 | Name days: Kurts, Knuts, Gundars
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Estonia wishes to support railway company with EUR 8 million

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The Estonian government has received a proposal to support in the amount of eight million euros the state railway company Eesti Raudtee, which has seen its revenue decrease considerably.

Estonian public broadcaster ERR reports, citing BNS news agency, that Indrek Laineveer, head of the Railways Department at the Ministry of Economic Affairs and Communications has explained that Estonian Railways must be supported as, according to the Estonian Railways Act and an EU directive, the state is obligated to ensure the budgetary balance of public railway operators in order to ensure the quality of the services on offer.

«This way, the state can ensure the budgetary balance of the railway infrastructure company with resources that would be left unused elsewhere,» the official explained.

In 2016, a total of 12.5 million tons of cargo was transported on Estonian Railways infrastructure, 18.7% less than in the previous year as the company saw its business revenue drop 10.6% to 43.3 million euros and net loss grew 70.9%, totalling 10.8 million euros.

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