On September 13, the shareholders are proposed to approve the termination of the agreement signed in May 2020 regarding the cooperation between the two countries in building a joint connection across the Baltic Sea, Litgrid announced on the Nasdaq Vilnius Stock Exchange.
Shareholders will also vote on a financial investment decision, by which Lithuania and Poland will confirm their obligations to finance and implement the connection project.
Harmony Link was previously planned to be built in the sea, but after the tenders submitted by contractors almost 2.5 times exceeded the price of 680 million. last spring, Lithuanian and Polish network operators terminated the tenders.
Last November, plans were announced to replace the cable in the sea with a connection on land – a cheaper alternative, and a part of it would be built next to the European railway line “Rail Baltica” and the “Via Baltica” highway.
During the construction of the land line, it is also planned to partially use the railway “Rail Baltica” and the highway “Via Baltica” between Poland and Lithuania.
The tender for the construction contractor of the connection should be announced in 2026, and it should be activated by the end of 2030.
97.5 percent “Litgrid” shares belong to the holding “Epso-G” managed by the Ministry of Energy.
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2024-08-25 14:29:25
