EIB will Fund Railway Rehabilitation Project in Turkey

05 July 2011 Tuesday, 06:58

European Investment Bank (EIB) has extended its €145m loan to Turkish State Railways to improve the country’s rail network.

The loan will help rehabilitate and implement a signalling system on the 415km Irmak-Karabük-Zonguldak railway line.
The rail line links the Anatolia region with several ports on the Black Sea to facilitate freight and passenger transport, as well as link to the extended Trans-European Network lines.
The rail line will improve transit time and give a boost to economic development.
The project will also receive €190m from a European Union grant through its Instruments for Pre-Accession funds.

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