A consortium encompassing VINCI subsidiary Cobra IS and Elecnor has been awarded the Rail Baltica project's electrification contract in Estonia, Lithuania and Latvia.

They will electrify 870 km of railway for Rail Baltica in a project valued at around EUR1.7 billion (US$2 billion), linking the Baltic rail system to the broader European network. For the first time on this scale, static frequency converter technology will be applied, combined with a 2x25kV, 50 Hz system powered through 10 traction substations.

In November 2024, Rail Baltica’s projected cost was revised upward to between EUR19 billion (US$22.3 billion) and EUR25 billion (US$29.3 billion)—over four times the original 2017 estimate of EUR5.8 billion (US$6.8 billion). The main line will be built in phases, with construction starting in 2026 and scheduled for completion by 2030.