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Wednesday, 11 April 2012

EU injects finance to boost port links

The EU has awarded €160m ($210m) in subsidies to help finance port related transport infrastructure plans across the European Union.

26 projects were selected under the criteria set out in the 2011 multi-annual call, which was published last June.

LNG infrastructure projects in the Baltic Sea and logistics links to ports were among the TEN-T projects selected.

The projects from 21 EU member states were selected ranging from those aimed at improving viable, regular and reliable sea-based transport services in Motorways of the Sea, to equipping trains and lines with the most advanced version of the European Rail Traffic Management System (ERTMS).

The subsidies will also help to mobilise substantial public and private financing, the European Commission said in a statement.

The transport infrastructure projects will be managed by the TEN-T Executive Agency, under the parentage of Directorate General for Mobility and Transport of the European Commission (DG Move).

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