Lithuania loan; funding found for road reconstruction

Plans to upgrade the Vilnius to Utena highway in Lithuania will now go ahead following the securing of a loan to help pay for the project. The €40 million loan is being sourced from the European Investment Bank (EIB). The loan will be for a period for 12 years, with guarantees being provided by the European Fund for Strategic Investments (EFSI). In all, the work to upgrade the 72.15km A14 route between capital Vilnius and Utena will cost close to €91 million, with the Lithuania Road Administration (LRA) pla
September 29, 2016 Read time: 2 mins
Plans to upgrade the Vilnius to Utena highway in Lithuania will now go ahead following the securing of a loan to help pay for the project. The €40 million loan is being sourced from the European Investment Bank (EIB). The loan will be for a period for 12 years, with guarantees being provided by the European Fund for Strategic Investments (EFSI). In all, the work to upgrade the 72.15km A14 route between capital Vilnius and Utena will cost close to €91 million, with the Lithuania Road Administration (LRA) planning to carry out the work under the PPP model. The road also provides connections to other towns including Kulionys, Moletai and Riese.

The road was constructed 30 years ago from concrete, initially as a route for the military, and is said to be in major need of reconstruction due to the deterioration of the surface. The roadway is said to be heavily cracked in many areas, reducing vehicle speeds and requiring regular repairs. The upgrade will see the route being widened to three lanes enabling it to carry greater traffic volumes than at present. Around 7,000 vehicles/day currently use the route but traffic volumes are expected to increase once the upgrade has been carried out.
Finance & Funding Road Structures

Related Content

  • New Midtown Tunnel open in Virginia
    January 30, 2017
    A project to construct the second Midtown Tunnel link in the US state of Virginia alongside the original connection has taken an important step forward – Mike Woof writes Commuters in the US state of Virginia will be pleased that the new Midtown Tunnel is now open to traffic, as it will help to boost capacity and cut congestion on the busy US 58 route connecting Norfolk and Portsmouth. The 1.13km tunnel link has been built to link with the interchange at Brambleton Avenue and Hampton Boulevard in Norfolk
    Read More
  • UK widening contract awarded to
    September 21, 2015
    A joint venture formed of Balfour Beatty and Carillion has won the tender process for a €401 million (£292 million) road widening package in the UK. The joint venture will commence with preparatory works worth €686,680 (£500,000) initially as the main contract is subject to approval of the wider A14 improvement scheme. The aim of the joint venture’s work is to upgrade the A14 between Swavesey and Milton. This forms part of the wider A14 Cambridge to Huntingdon road improvement scheme. The joint venture is a
    Read More
  • Italy's strategic tunnel link
    August 21, 2012
    The world's largest tunnelling machine is completing Italy's important road connection between Bologna and Florence - Adrian Greeman reports For just under a decade a huge programme of highway construction has been underway in the mountainous region between Bologna and Florence, realigning a section of the A1 highway nearly 70km long. The new section, through major tunnels and across high viaducts, will greatly increase capacity on Italy's most important highway.
    Read More
  • New EU-Russian highway connection
    February 18, 2013
    Among the forests and lakes of Finland, one of Europe's newest motorway links is being built as a Green highway linking Europe to Russia - Adrian Greeman reports The road eastwards from Finland's capital Helsinki, along the north coast of the Gulf of Finland, has not carried heavy traffic volumes, at least until recent times. Highway seven as it is designated locally, or E18 in European nomenclature, is partly motorway but in some sections still dual carriageway or even just a single lane each way, finishin
    Read More

Highlighted Content