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EU announces multi-billion euro investments in infrastructure projects

mardi, 2 avril, 2019 - 20:26

The European Commission announced Tuesday an EU investment of € 4 billion for “infrastructure projects” in areas such as transport or health in ten member countries.

Twenty-five projects are involved, which with added national co-financing will amount to a total investment of 8 billion euros, the European Commission said in a statement.

Of the projects announced today, the largest single recipient will be the Bucharest ring road with a package of envelope of one billion euros to be spent on extending several sections and doubling the lanes in each direction. Also in the Romanian capital, an amount of € 97 million will finance work on the entire second subway line, providing it with new tracks and rolling stock.

Romania will see another large investment, this time in for the protection and rehabilitation of its popular Black Sea coast in Constanţa district, of € 603 million. The project includes cliff consolidation works, replenishment of beaches and measures to preserve biodiversity such as the creation of artificial reefs and the restocking of marine species.

In Italy, € 358m will go towards a 6.8 km extension of the “Circumetnea” railway line in Sicily to link Catania with the South of the island.

Greece will receive € 135 million for its “Syzefxis II” telecommunications system, intended to unify the entire network of the Greek public administration for the benefit of 600,000 civil servants. An additional 34,000 premises will be connected to the system to achieve significant economies of scale.

In Portugal, € 119m will go towards the modernization of the northern railway line, which forms part of the trans-European transport network (TEN-T). The project will reduce travel times while improving comfort and safety for passengers.

“These 25 projects are as many examples of how the EU is working to improve everyday life for our citizens from better drinking water to faster rail transport and modern hospitals. In the current budget period, I have adopted 258 large infrastructure projects worth €32 billion of EU funds; they are, in a way, the ambassadors of Cohesion Policy and I’m proud of each and every one of them,” said Corina Creţu, Commissioner for Regional Policy.

 

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