European Investment Bank may offer a EUR 450 million financing to Polish railway infrastructure manager PKP PLK for the company’s upgrading and modernisation projects, including access to the main Polish sea ports, and other TEN-T lines.
The total cost of the project is EUR 1 billion, of which the Proposed EIB financing is EUR 450 million.
The project is expected to generate time and vehicle operating cost savings by allowing for more efficient use of existing rail capacity. It may also present environmental and safety benefits due to modal shift from road to rail expected to take place because of better rail services. The project will increase the quality of rail services provided in Poland as well as promote travel by rail and will, thereby, enhance sustainable transport in line with EU objectives. The project is mostly located in convergence zones and by facilitating access promotes regional development.
PKP PLK signed more contracts for the modernisation of its infrastructure and received EU financing, especially under Connecting Europe Facility.
The company estimates that this year will sign contracts valuated at PLN 25 billion (EUR 5.9 billion) for the modernisation and renewal of the railway network. By 2023, PKP plans to rebuild 9000 km of tracks and to install ERTMS/ETCS on 2000 km lines. Under its National Railway Programme, PLN 66 billion (EUR 15.5 billion) will be invested in railway projects across the country.
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