European Union: Brussels grants Portugal 557 million euros for TGV

22 November 2007

Brussels, Belgium, 22 Nov – The European Commission has decided to grant Portugal funding of 556.8 million euros for its high-speed rail project (TGV) and 69 million euros for the future Lisbon airport, officials said in Brussels Wednesday.

The Commission announced the distribution between member states of an amount of over 5 billion euros (for the 2007-2013 period), spread over 30 large priority transport projects linking Europe, with rail projects absorbing most of the funds (3.9 billion euros, or 74.2 percent of the total).

In July Lisbon presented a proposal for EC financing within the framework of the Trans-European Transport Networks for the high-speed rail project, which was presented jointly with Spain for cross-border sections of the railway linking Évora to Merida (on the Lisbon-Madrid line) and Ponte de Lima-Vigo (on the Porto-Vigo line).

The latest figure provided by the Portuguese government for the total cost of the project, was 7.1 billion euros.

The Portuguese government also put forward a proposal in June for funds for the future Lisbon airport – regardless of its final location – and was granted 69.9 million euros for studies and work. (macauhub)

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