Nordea allocates 13.3 million Euros to “Latvijas dzelzceļš” SJSC for infrastructure development

Nordea bank has issued a long term loan of 13.3 million Euros to “Latvijas dzelzceļš” SJSC. The funding is intended for “Latvijas dzelzceļš” SJSC investment financing.

The financing is meant for development of the railway infrastructure, including track renewal, turnout replacement, improvement of infrastructure security, and other projects.

“The flagship of Latvian economy - “Latvijas dzelzceļš” SJSC, is not only a long term strategic partner of Nordea in the lending business, but we are also linked by a regular and very productive day-to-day cooperation with the holding company's subsidiaries. Within the framework of this cooperation, Nordea has issued a long term loan. We are delighted to collaborate with a company, who under crisis conditions, when a significant drop in the volumes of transported cargo takes place, operates with a clear long-term vision,” says Janis Buks, Head of Nordea bank in Latvia.

“In recent years, “Latvijas dzelzceļš” SJSC, through a series of large-scale projects, has purposefully worked on improving the quality of infrastructure. Apart from shipment volumes and other processes related to our daily activities, our task is to maintain this quality by annual investments in infrastructure renovation. Therefore, we are pleased with the cooperation and believe that the loan received proves that the financial sector appreciates our company's ability to ensure financial stability,” notes Aivars Strakšas, Vice President of “Latvijas dzelzceļš” SJSC.

“Latvijas dzelzceļš” SJSC is a public-use railway infrastructure manager and the dominant undertaking of “Latvijas dzelzceļš” holding. The holding includes six subsidiary companies – ”LatRailNet” JSC, which sets infrastructure charges and performs railway infrastructure capacity allocation, “LDZ CARGO” Ltd., which provides rail freight transport and international carriage of passengers, the infrastructure construction and maintenance company “LDZ infrastruktūra” Ltd., the rolling stock repairs and maintenance company “LDZ ritošā sastāva serviss” Ltd., the security company “LDZ apsardze” Ltd., as well as the logistics company “LDZ Loģistika” Ltd.

For additional information contact:
Signe Lonerte, Head of Communication, Baltic States, Tel.: 6 700 5469, GSM: 29 116 146, signe.lonerte@nordea.com