Investment of €50 million-€100 million has been promised for the proposed Baxet Coal Terminal project at Liepaja in Latvia.
This would require state funding, as well as finance from the EU and possible private investors, too. The aim would be to create a transshipment terminal for Russian coal. This would be carried to Liepaja by rail.
Baxet Coal Terminal Company was established in November 2009 and is owned by the Russian Elena Schukina (51%) and US citizen Aexei Krasyukov (38%).