EU To Invest Billions Of Euros In European Travel By Trains
(Last Updated On: 21/02/2021)
The EU has proposed to invest over €100 billion in trains to boost European travel, This investment will combine with public and private funding. Altogether, the total investment will exceed €4.5 billion. The investment will come through a funding group called Connecting Europe Facility. In short, the funding will come from a few groups. These groups include national, private, and investment banks.
Funding will help upgrade the European travel rail network. Also, the investment will help develop alternative fuel options for trains. Additionally, the funding will pave the way for zero-emission transport.
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European Travel Projects
Projects will focus on the core network of European travel. €719.5 million is for the European rail network. €99.6 million is for upgrading road transport. Also, €78.9 million is for developing ports. And €44.7 million is for inland waterways.
Flagship initiatives that the funding will cover include;
- Increasing the speed of trains between Denmark and Germany.
- Upgrading railway lines in Slovenia
- Rail tunnel between Italy and France
- Adding 340 charging stations because of electric cars
- Adapting waterways due to freight transport
Additional EU train funding of €37 Billion for European travel
According to some sources, Europe has invested an additional €37 Billion in the train industry. This amount will give more people jobs and income. The European rail network is due to an increase in capacity and sustainability. Here are some of the projects the €37 Billion is used for;
1. Gotthard Base Tunnel
While this tunnel is 17 years old, it only opened for European travel in 2016. Because of the Alpine mountains, it took 2,400 workers to drill through. The tunnel’s length is almost 57 KM, making it the largest tunnel in the world. Because of the size of the tunnel, the cost was € 11 billion.
This tunnel connects Northern Italy with Southern Germany which are two important countries in the European travel ecosystem. In the future, 240 freight trains will use this tunnel. Because of the tunnel, the freights will replace over 2 million truck journeys per year. Trucks have to drive up the mountain and wait in toll queues. As a result, the freights, which will travel at an uninterrupted 160 KM per hour will be preferred.
2. Fehmarnbelt Link
This fixed link tunnel will be the longest immersed tunnel in the world. The tunnel will link Denmark with the German Island of Fehmarn. The total cost of this link tunnel is €7 billion. This link will cut the train journey time between Stockholm and Hamburg by 2 hours. The freight industry between Germany, Denmark, and Sweden have gained massively from this link, this surely will enhance European travel.
3. European Travel Railway Network Connection Project VDE 8
VDE 8 is probably the largest railway construction site in Germany. The project improves transport across Germany. Because of its size and technology the VDE 8 line between Berlin and Munich costs €10 billion.
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