EU opens $15.5 billion port-link bidding

Twitter
Facebook
LinkedIn
Email

A record US$15.5 billion has been opened for bidding by the European Union for projects that aim to improve transport links between 94 main ports and their road and rail links, the JOC has reported.

The funding will be focused on nine major corridors of transport infrastructure, from Stockholm to Palermo, Sicily, and from Porto on the Atlantic coast to Constanta on the Black Sea.

These nine transport corridors will be the foundations of a core network that will also link 38 key airports to major cities and upgrade 15,000 kilometres of rail track to high speed by 2030.

The European Commission, the EU’s executive agency said: “The funding will remove bottlenecks, revolutionize east-west connections and streamline cross border transport operations.”

However, at this stage, the initial capital of US$15.5 billion may not be taken up as the projects must be co-funded by cash-strapped member states.

The Commission estimates a total cost of US$323.5 billion for implementing the first phase of the core transport network during 2014-2020.

The deadline for member states to submit their bids will be February 26, 2015, and the successful projects will be announced in the summer of that year.

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.
FREE

Supplier Directory

Be listed with industry leaders operating within Ports and Terminals

Webinar Series

Join 500+ attendees on average with a Port Technology International webinar

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.