SJSC "Latvijas dzelzceļš" (LDz) has signed an agreement with OP Corporate Bank plc Latvia Branch on financing in the amount of EUR 31 million necessary for the implementation of the investment project for 2018.
Elmārs Prikšāns, Head of OP Corporate Bank plc Latvia Branch, commented: “Modernisation of the company, renewal of infrastructure and increase of competition is the basis for successful long-term development. OP Bank is a stable partner for our national economy for such a significant company as “Latvijas dzelzceļš”. Modernisation of the infrastructure will strengthen the freight, logistics and transit sector, as well as allow Latvia to integrate into the global transit roads more efficiently.”
LDz will invest the financing granted by the bank for the implementation of the modernisation projects of Riga and Daugavpils assemblies already commenced by improving throughput necessary for the infrastructure, the organisation and safety of technological processes, and the funds are also intended for the renovation of electricity supply and electronic communication means, trackside and rolling stock. The loan term is seven years.