A possible EIB financing for Divaca-Koper project

The European Investment Bank evaluates the Divaca-Koper rail project for which intends to provide a EUR 250 million financing. The value of the project is EUR 1.2 billion and envisages the construction of the second track along the existing line.
In June 2018, INEA provided EUR 109 million grant for the implementation of this project. The grant, received under the 2017 CEF Transport Blending call for proposals, will mobilise a total of EUR 436.1 million in public and private co-funding. Slovenia will invest EUR 522 million in case the project will not involve the cooperation of other countries. By 2026, EUR 122 million will come from the funds collected by adding a toll on freight vehicles, EUR 200 million from the budget will be provided for 2TDK’s capital and, if the cooperation with other countries will not take place, a further EUR 400 million investment will be directed for the implementation of the project. In case of other countries’ involvement, the EUR 200 million contribution to the 2TDK is planned for 2021 and 2022. The remaining needed funds to complete the project are expected to be obtained form non-refundable European funds (EUR 250 million), loans from international financial institutions and SID Bank (EUR 250 million) and loans from commercial banks (EUR 167 million). EUR 6 million will be covered by increased TACs collected from operators who use Slovenian railway network.
In January, the Slovenian Government approved the project’s investment programme. “The project is economically viable, because the economic benefits are higher than the costs,” said Minister of Infrastructure Alenka Bratušek. The investment programme highlights that the construction works will be launched this year and should be completed in 2025. The line will be put into commercial operation in 2026, when the distance between both cities will be shorter, from 44.3 km to 27 km and the travel speed will increase from 75 to up to 160 km/h for passenger trains, and for freight trains up to 100 km/h. This will lead to considerable reduction of travel times from 43-48 to 15-21 minutes. The construction of the new second track will also significantly increase the capacity of the Divača-Koper rail line from 90 to approximately 220 trains per day.
2TDK d.o.o is the company responsible for the project that involves the construction of a 27-km second track with seven tunnels, which are key infrastructure components of the line’s second track. It will increase the rail capacity between the port of Koper and the rail junction in Divaca.
In August, the Act Regulating the Construction, Operation and Management was published in Slovenia’s Official Gazette which means that the construction works can soon be launched.

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