EU proposes to spend €2.7 billion for 152 transport projects

The European Commission is proposing to invest US$3 billion (€2.7 billion) in 152 key transport projects that support competitive, clean and connected mobility in Europe.
June 29, 2017 Read time: 2 mins

The 1690 European Commission is proposing to invest US$3 billion (€2.7 billion) in 152 key transport projects that support competitive, clean and connected mobility in Europe. In doing so, the Commission is delivering on its Investment Plan for Europe and on Europe's connectivity, including the recent Europe on the Move agenda.

Selected projects will contribute to modernising rail lines, removing bottlenecks and improving cross-border connections, installing alternative fuel supply points, as well as implementing innovative traffic management solutions. This investment is made under the Connecting Europe Facility, the EU's financial mechanism supporting infrastructure networks, and will unlock US$5.3 billion (€4.7 billion) of public and private co-financing. Such investment will not only modernise Europe's transport network but also stimulate the economic activity and spur job creation.

Selected projects are mostly concentrated on the strategic sections of Europe's core transport network to ensure the highest EU added-value and impact. The largest part of the funding will be devoted to developing the European rail network, decarbonising and upgrading road transport and developing intelligent transport systems and deploying air traffic management systems.

Actions include flagship initiatives such as the upgrade of the over 100 km-long Białystok-Ełk rail section in Poland; modernisation of ATM systems in EU Member States; full expansion of the Karawanken road tunnel linking Slovenia and Austria; development of a high-speed electric vehicle charging network across Sweden, Denmark, Germany, France, the United Kingdom and Italy.

EU Commissioner for Transport Violeta Bulc said: "The demand for investment in transport infrastructure is huge. This new wave of investment focuses on clean, innovative and digital projects to modernise Europe's transport network. Today we are one step closer to a true Transport Union, serving the needs of citizens, stimulating the economy and creating jobs. Looking ahead, I am inviting stakeholders to make best use of the remaining funds, using blending to maximise impact and leverage all possible resources."

Urban Traffic Control

For more information on companies in this article

Related Content

  • Smart transportation market worth $104.19 billion by 2019
    April 1, 2014
    MarketsandMarkets recently conducted a study on the Smart Transportation Market by Solutions (Ticketing Management, Parking Management, Passenger Information, Traffic Management) & Services (Cloud, Professional, Business) Global Advancements, Application Roadmaps - Forecasts and Analysis 2014-2019, which concludes that the smart transportation market is expected to grow from US$45.05 billion in 2014 to US$104.19 billion by 2019. Congestion, emergence of cloud services, need of sustainable solutions, and
    Read More
  • Further EIB support for Lithuanian Railways
    June 4, 2013
    Lithuanian Railways are set to benefit from new rolling stock following a US$65.3 million loan agreement with the European Investment Bank (EIB). After the support for the upgrading of railway infrastructure and purchase of new locomotives, this is now the third EIB operation aimed at modernising Lithuanian railways. “The EIB strongly promotes sustainable transport, and railways will remain one of the most energy-efficient and least polluting land transport modes. We therefore particularly welcome this agre
    Read More
  • IBTTA calls on Congress to repeal regulation on tolling interstate highways
    May 24, 2017
    The White House has released President Trump’s fiscal year 2018 budget, including a US$200 billion investment in infrastructure projects over the next 10 years with a focus on leveraging the power of public private partnerships. The International Bridge, Tunnel and Turnpike Association (IBTTA) has responded, saying the government should repeal the burden of regulation and give states maximum flexibility to use financing tools to meet their local needs. 35 states and territories throughout the country have u
    Read More
  • Michigan infrastructure vision
    February 1, 2012
    An innovative infrastructure project proposed by The Interstate Traveler Company (ITC) has won strong backing from the Michigan House of Representatives Task Force, as well as being awarded a Michigan's Going Green Award.
    Read More

Highlighted Content