OREANDA-NEWS. October 30, 2014. Economy minister Urve Palo and Latvian and Lithuanian counterparts met in Riga to sign the agreement to establish the joint trilateral venture to build a railway to the rest of Europe.

The Rail Baltic project will have to be submitted to the European Commission in a few months.

The Economic Affairs Ministry unveiled the preferred route of the railway through Estonia last week. Discussions will continue in several counties and early November will see a Cabinet-level decision, ERR radio reported.

The route is 211.4 kilometers long and will cost 1.1 billion euros, of which 650 million euros will be applied for to the European Union.

Estonian officials have said they plan to ask for the first 191 million euro tranche next February.