Germany to invest record 86 bln euros in rail modernization

Source: Xinhua| 2020-01-14 23:58:39|Editor: yan
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BERLIN, Jan. 14 (Xinhua) -- A record 86 billion euros (95.6 billion U.S. dollars) is planned to be invested in the maintenance and modernization of Germany's rail network by 2030, the the country's Ministry of Transport (BMVI) said on Tuesday.

"The twenties will be a brilliant age of railways," said Transport Minister Andreas Scheuer. "We sign the biggest modernization program ever in Germany."

The German government would contribute 62 billion euros, while the state-owned national railway company Deutsche Bahn (DB) would provide 24 billion euros in own funds, according to the BMVI. The total amount to be invested is 54 percent higher than in the previous planning period.

On average 8.6 billion euros per year would be available for maintenance, such as the renewal of tracks and stations, signal boxes and energy supply facilities, the BMVI noted.

Investments are planned for the renewal of around 2,000 kilometers of track and 2,000 switches annually. The renewal of 2,000 railway bridges would also be "tackled in this decade."

Scheuer considers the investment the "basis for active climate protection in transport." (1 euro = 1.11 U.S. dollar)