Germany to invest € 86 billion in railway modernization

Germany has committed € 86 billion to railway maintenance and modernization over the next decade. The government will raise 62 billion and Deutsche Bahn (DB) will pay the remaining 24 billion. The two parties signed a guaranteed investment contract in Berlin on Tuesday, January 14, 2020, the largest investment in German history.

"The 2020s will be the golden age of German railways," said Andreas Scheuer, German Minister of Transport and Digital Infrastructure. "We are signing the largest modernization plan in German history. Our goal is to build A strong railway network serves as the foundation for active climate protection in transportation. "

Investment has increased by 54% over the previous management period. Part of the funds each year will be used to update about 2,000 kilometers of tracks and 2,000 switching points. By 2030, 2,000 railway bridges will also be renovated. Signal box technology alone will cost 7 billion euros. Deutsche Bahn has said it hopes to increase its fleet of ultra-high-speed ICE 4 trains from 39 to 137.

Stefan Di Bittonto, a transport specialist at the German Trade and Investment Agency (GTAI), said: "The record size and scope of the investment will provide foreign companies as well as German companies with significant opportunities for participation. "In fact, companies from around the world are already participating in the modernization process."

Deutsche Bahn hopes to see regular high-speed connections operating at rapid intervals between all major German cities and plans to reach 260 million passengers per year by 2030. The emphasis on railways is part of Germany's ambitious strategy to significantly reduce greenhouse gas emissions, and railway company chief executive Richard Lutz has argued in the past that railways are "the only truly green mode of transport."

Source - GTAI