PKP Earmarks more than EUR 10bn for Investments up to 2012

05.05.2008 (12:29)

The authorities of Polish State Railways (PKP) will allocate roughly EUR 10bn to capital expenditure in the years up to 2012.

The projects will be financed from EU subsidies and cash from the railway fund. These outlays will be spent on buying rolling stock and rebuilding and modernising stations and railway lines, Railway Market-CEE Review reports.

Last year PKP spent the sum total of PLN 3.6bn (EUR 1bn) on investment projects. Over 67% of this figure went towards renovating railway lines and roughly 20% to upgrading existing rolling stock and buying new trains. This year the railway’s authorities intend to embark on the privatization of PKP Intercity and PKP Cargo, which should be finalised by 2010.