RIGA - Shareholders in RB Rail, the Baltic joint venture in charge of Rail Baltica railroad project’s implementation, have approved the company’s new supervisory board.
The Lithuanian shareholder, Rail Baltica Statyba, decided to replace its representatives, which meant that in line with the shareholders’ agreement the whole board had to be recalled and a new one appointed.
The representatives of Latvia’s Eiropas Dzelzcela Linijas on the RB Rail board are Latvijas Dzelzcels president Evins Berzins and Vineta Rudzite, the deputy director of the Legal Department at Latvijas Dzelzcels. The new Lithuanian representatives on the RB Rail board are Rail Baltica Statyba director Karolis Sankovski and Rail Baltica Statyba lawyer Steponas Saltmeris.
Estonia’s representatives include Rail Baltic Estonia board member Anti Moppel and Rail Baltic Estonia CEO Indrek Orav.
The RB Rail supervisory board includes six members, with each shareholder delegating two board members. The board members are appointed for a two-year term.
RB Rail is a joint venture established by the three Baltic countries in October 2014. The Rail Baltic project seeks to establish a direct railway connection between the Baltic states and the European railway network enabling speeds of up to 240 kilometers per hour for passenger trains and 120 kilometers per hour for freight trains.