Drive to invest €1.5 trillion in transport in Europe

on . Posted in Infrastructure

EU TransportNew agreement on a proposed plan to spend €1.5 trillion creating an integrated transport network in Europe has been reached.

The European Commission, Council and Parliament have all backed the plan to ‘transform the existing patchwork’ of roads, railways, airports and canals.

The agreement aims to create a core ‘TEN-T’ transport network by 2030 with coordinated investment by the EU’s 28 member states, including the UK and Croatia when it joins this July, and some grant support from the EU.

The TEN-T plan is designed to fill in cross-border missing links, remove bottlenecks and make the network more intelligent.

Commission Vice-President responsible for transport Siim Kallas said: “This is a historic agreement. Transport is vital to the European economy. Without good connections Europe will not grow or prosper.

“This agreement will connect East and West and replace today’s patchwork with a network that is genuinely European. This is a major step towards building a new transport network that will be the backbone to boost growth and competitiveness in Europe’s single market.”

The cost of investing in infrastructure and delivering on the plan is estimated at €1.5 trillion between 2010 and 2013. TEN-T will soak up €550 billion in spend by 2020, of which €215 is set aside specifically for removing bottlenecks.

Currently the EU encompasses more than three million miles of roads of which 5.000.000 km of paved roads, out of which 40,000 miles are motorways. European-wide spend on transport between 2000 and 2006 was €859 billion.

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