Rail

Portugal to invest $14B in high-speed rail network

Posted on November 11, 2003

Portugal said Monday it will invest $14.4 billion to develop five new high speed rail links by 2018, including four which will connect the country to neighboring Spain, according to Agence France Presse. The new rail links are needed because road networks are becoming saturated and the existing rail network, developed when Portugal had fewer ties to the rest of Europe, no longer reflect the current needs of the nation's economy. The European Union is expected to cover more than half of the price tag of the project, while the Portuguese government will pay between 10% and 20%, said the news service. The remainder of funding for the project will come from the European Investment Bank and public-private partnerships. Construction on the new links will begin in 2006 and once completed both Lisbon and Portugal's second-largest city Oporto will be connected to Madrid, and from there to the rest of Europe, in under three hours, said the AFP.

View comments or post a comment on this story. (0 Comments)

More News

Caltrain hosts groundbreaking for electrification project

The project will electrify the Caltrain corridor between San Francisco and San Jose and will equip the corridor with high-performance electric trains.

Lhota unveils New York City subway action plan

The announcement comes fewer than 30 days after Gov. Andrew Cuomo declared New York City’s subways to be in a state of emergency and directed Chairman Lhota to provide a plan for immediate action that puts customers first.

Canadian infrastructure bank possible financing option for U.S.-Canada high-speed line

The Trudeau government’s soon-to-be-launched, $35-billion infrastructure bank will seek to use public funds as leverage to attract billions more in private investment for major infrastructure projects, such as bridges, transit systems, and rail lines.

Joint venture selected to operate new Hartford commuter rail

TransitAmerica Services and Alternate Concepts has been selected as the service provider that will operate and manage service on the CTrail Hartford Line — the passenger rail service currently under construction.

Keolis, MBTA to improve commuter rail ticket checking

Estimates suggest that up to $24 million in uncollected fare could be recovered through a ticket-checking modernization initiative and other tactics.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close