INF Infra Secures €67.2 Million Contract for Rail Baltica Line
INF Infra's New Contract Aims for Sustainable Transportation
INF Infra OÜ, a prominent subsidiary of the Infortar Group, has recently made headlines by securing a significant contract with Rail Baltic Estonia OÜ. This pivotal agreement focuses on the construction of a section of the Rail Baltica main line, specifically between Kangru and Saku. The project's contract stands at an impressive €67.2 million, exclusive of VAT. The timeline for completion stretches over 40 months, with the final stages expected to wrap up by March 2028.
Innovative Construction Plans for Environmental Protection
One notable aspect of this project is the challenge posed by the Männiku bog, which the railway embankment will traverse. Robert Sinikas, a Member of the Management Board at INF Infra, expressed that a key priority is minimizing environmental impacts during construction. To achieve this, they are committed to implementing cutting-edge solutions that have not previously been utilized in Estonia's infrastructure projects. These innovative embankment designs promise to be more eco-friendly compared to conventional construction methods, highlighting INF Infra's dedication to sustainable practices.
Transforming Rail Connectivity in the Baltics
Rail Baltic Estonia is on a mission to establish a modern high-speed rail link by the year 2030, which aims to connect Estonia with its neighboring countries, Latvia and Lithuania, along with the broader European network. This ambitious Rail Baltica initiative is more than just a transportation project; it fosters regional cooperation, enhances options for both passenger and freight transport, and champions an eco-conscious approach to transportation across the Baltic region.
Understanding the Transaction within Market Guidelines
The recently signed contract, while substantial, is treated as a standard economic activity and does not fall under the category of transactions that could imply conflicts of interest as per the guidelines set by the NASDAQ Tallinn Stock Exchange. Consequently, the members of both the Supervisory Board and the Management Board of Infortar have no personal stakes in this agreement.
Infortar Group: A Diverse Portfolio
Infortar operates across seven countries, engaging in a variety of sectors including maritime transport, energy, and real estate. Its holdings feature a commanding 68.47% stake in Tallink Grupp and a complete ownership of Eesti Gaas, alongside a diverse real estate portfolio covering approximately 116,000 square meters. Beyond these core areas, Infortar is active in construction, mineral resources, agriculture, and printing, among other sectors. The corporation boasts impressive figures, encompassing 105 companies, which include 96 subsidiaries and 4 affiliates, with a workforce of 6,108 employees.
Contact Information for Further Inquiries
For those seeking more information about Infortar and its plans, Kadri Laanvee, the Investor Relations Manager, is the key contact. She can be reached by phone at +372 5156662 or via email at kadri.laanvee@infortar.ee. Moreover, additional insights about the organization can be found on their investor relations page.
Frequently Asked Questions
What is the main purpose of the INF Infra contract?
The main purpose of the contract is to construct a section of the Rail Baltica main line, which is aimed at enhancing regional connectivity.
How does INF Infra plan to minimize environmental impact?
INF Infra plans to use innovative construction techniques that are more environmentally friendly than traditional methods.
What are the financial details of the Rail Baltica contract?
The contract is valued at €67.2 million, with work scheduled over a period of 40 months.
When is the expected completion date for the project?
The project is expected to be completed by March 2028.
How many companies does Infortar Group have?
Infortar Group encompasses 105 companies, including subsidiaries and affiliated companies.
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