US$8 billion transport investment by EU
By Andy Brown20 September 2021
Approximately €7 billion (US$8.2 billion) is to be made available for European transport infrastructure projects by the European Union (EU).
Launched under the Connecting Europe Facility (CEF), the majority of projects funded under this will help to increase the sustainability of the overall transport network in the EU. This will help the EU to meet the European Green Deal objective of cutting transport emissions by 90% by 2050.
Transport Commissioner, Adina Vălean, said, “We are massively increasing funds available for deployment of alternative fuels infrastructure, to €1.5 billion. For the first time, we are also supporting projects so that our trans-European transport networks are suitable for civilian-defence dual-use and improve military mobility across the EU.”
Of the funding, €5.1 billion (US$5.9 billion) will be for infrastructure projects on the Trans-European Transport Network (TEN-T), including railways, inland waterways, maritime and inland ports, roads, rail-road terminals and multimodal logistics platforms and passenger hubs.
Approximately €1.5 billion (US$1.7 billion) is allocated for a new Alternative Fuel Infrastructure Facility, implemented through a rolling call until 2023, including electricity fast-charging and hydrogen refuelling infrastructure on the TEN-T road network.
“Projects funded under yesterday’s call will contribute to the creation of an efficient and interconnected multimodal transport system for both passengers and freight, and the development of infrastructure to support more sustainable mobility choices,” added Vălean.