Brussels, 17/10/2006 (Agence Europe) - On 13 October, the European Investment Bank (EIB) decided to provide a loan of €255 million to REFER (Rede Ferroviária Nacional) for the modernisation of four suburban railway corridors around the Lisbon and Porto metropolitan areas.
A loan contract tranche of €55 million has already been signed in Lisbon. Continuing long-standing cooperation with REFER, the national railway infrastructure operator, the EIB, through its support of these new projects, is contributing to the improved safety, service quality and competitiveness of the railways. The investment will help reduce travel time and operating costs, in line with EU and national objectives to promote sustainable mobility. It is crucial to the modernisation of important railway infrastructure and improving travelling conditions on these heavily-used suburban lines, and, thus, should help stop passengers switching from rail to road. The 143km. network improvements will be on the Sintra line (28km.) in Lisbon, and, in Porto, on the Douro (30km.), Porto-Braga (54km.) lines and its branch line Lousado-Guimaraes (31km.). Reduced travelling time, increased safety, urban environment improvements (remodelling stations and halts) and easier interchange with other forms of transport are among the expected benefits for both passengers and freight. (ol)