ÖBB and the European Investment Bank (EIB) have agreed a €1.8 billion loan to fund upgrades to rail routes around Austria.
The loan will be delivered over three years in €600 million instalments and support projects along the core Baltic-Adriatic Corridor, including the Semmering base tunnel, the expansion of the Wien Süd freight terminal and the double-tracking of the Pottendorfer line in Lower Austria.
A double-track on the Pottendorfer line between Hennersdorf, Münchendorf and Wampersdorf will unlock vital capacity on the route.
The Semmering Base Tunnel will bring further benefits. The 27.3-kilometre, twin-bore tunnels will bypass the existing Semmering mountain railway and, thanks to a shallow gradient, will allow the transport of freight using a single locomotive.
The chief financial officer of ÖBB-Holding AG, Josef Halbmay, said: “The upgrading of the Südstrecke is a crucial project for the railways and for Austria as an economic hub.
“In this way, we are creating the conditions for faster and less polluting mobility. Under this partnership with the EIB, we are financing this economically beneficial project on favourable terms.”
