BERLIN, July 26 (Xinhua) -- Over the next ten years, the German government and railway company Deutsche Bahn intend to invest around 86 billion euros (95.8 billion U.S. dollars) in maintaining the rail network, the German Press Agency (dpa) reported on Friday.
According to dpa, the sum provides for a basic agreement on a new service and financing agreement and would run for ten years. Most of the money would come from the federal government.
"We have reached agreements on the key points and are now in the phase of finalising a contract text," said Ronald Pofalla, Deutsche Bahn chief infrastructure officer at the presentation of the company's half-year figures on Thursday.
Pofalla did not specify how much financing had been agreed on with the government.
The existing financing agreement that is expiring was valid for five years and provided an average of around 5.6 billion euros each year for the maintenance of the German rail network.
The new agreement would significantly increase financing for the German railways, starting with an average of 7.9 billion euros per year from 2020 to 2024, dpa reported.
For the following four years, 2025 to 2029, an average of 9.2 billion euros per year of financing is planned for maintaining Germany's rail network.
There is a great need for investment at many points in Germany's 33,000 kilometre long rail network due to partly dilapidated bridges and facilities.
As part of the agreement, Deutsche Bahn would renew around 2,000 bridges over the next ten years, said the dpa report.
Under the existing agreement, 875 bridges were to be refurbished by 2019.
The German press agency noted that the investment agreement, which is intended to maintain and improve the efficiency of the German rail infrastructure, is related to the existing network and does not cover the construction of new rail lines.
Many rail lines are also getting on in years and urgently need to be rehabilitated, said the report.
These factors were a reason for rail delays and other disruptions. In the first six months of the year, around one in five long-distance trains operated by Deutsche Bahn came too late.
Company figures show that rail punctuality had deteriorated slightly compared with the first half of 2018.
The government has set itself the goal of significantly strengthening the railways, including doubling the number of passengers by 2030.
More and more people in Germany have been taking the train, said the railway company which registered around 72 million passengers in the first half of the year, an increase of 1.3 percent. (one euro currently equals to 1.11 U.S. dollars)
