EU Transport Infrastructure Funding Planned

The European Commission plans to spend €695 million ($801 million) on 49 key projects to develop sustainable and innovative transport infrastructure in Europe across all transport modes.

The projects will provide infrastructure allowing greater use of alternative fuels and electric cars, modernize air traffic management and further develop waterborne and rail transport.

EU Transport Commissioner Violeta Bulc says the investment plan will further accelerate the transition to low-emissions mobility across Europe.

The plan is expected to unlock €2.4 billion ($2.8 billion) of public and private co-financing.

More than €250 million ($288 million) will be spent on 26 projects to develop new technologies in transport, notably promoting alternative fuels including deploying hydrogen public-transport infrastructure in Denmark, the U.K. and Latvia.

It also will fund the construction of a network of bio-liquefied natural gas stations on roads connecting southern Spain and eastern Poland via France, Belgium, the Netherlands and Germany; and electrifying urban and regional bus routes in Croatia, Italy, Slovenia and Slovakia.

Following EU member states’ approval of the proposal, the Commission will adopt a formal decision and its Innovation and Networks Executive Agency then will assign the grants to project beneficiaries by next January.