The European Union has repeatedly announced that it could annul a EUR 300 million financing for Lyon-Turin high-speed railway because of the delay in project development. So far, EU granted EUR 800 million to the project, but the EUR 300 million could be redirected to other projects in case further delay is registered.
Moreover, financing might be suspended altogether if tenders for the new project are not launched by the end of March.
The decision of the European Union comes a month after a report of the Italian Government revealed that Lyon-Turin high-speed railway would not be profitable at all.
The project has been launched several years ago and has been supported by the European Union. According to estimates, the 250-km railway should have been completed in 2025 and should have crosses the Alps to connect France to Italy.
Currently, the project is facing the rigid opposition of the Five Star Movement, a major partner of Italy’s government coalition, while Liga Party supports the project.
The Italian Government has recently adopted a motion to further evaluate the Lyon-Turin high-speed railway. The re-evaluation of the project might generate additional delays.
The railway includes the construction of a 58-km Alpine tunnel, which is, actually, the main section of the project.
Tunnel Euralpin Lyon Turin (TELT), the consortium in charge with project development, has already bored 25 km of tunnel including four access ways and around 6 km of one of the two main passageways.