16 Nov European Commission presents new Trans-European Network for Transport
19 October 2011 – The European Commission has today adopted the proposal to create the unified Trans-European Network for Transport (TEN-T). The implementation of the project will remove bottlenecks, upgrade infrastructure, promote inter-modality and contribute to reduce pollution. The result will be a general improvement of the capability of transporting passengers and goods in the whole Europe.
The project is subdivided in two parts: a “core network” to be completed by 2030 (which collects the most important asses and nodes of the TEN-T) and a “comprehensive network” to be completed by 2050 (which is composed by minor links and will improve connection with the core network).
One of the most important news of the project is the legal requirement to finish projects. In order to encourage Member States to carry out the commitments made, the core network projects will be included in a Regulation. It will therefore be required to complete them on time.
The whole TEN-T project will require 500 billions €. The core network, to be implemented by 2030, will require 250 billions €. European Commission has already proposed to invest 31.7 billions € (CEF fund). Thanks to the very strong leverage effect from TEN-T funding it is expected that every 1 million € spent at European level will generate 5 million from Member State governments and 20 million from the private sector. Added to this leverage effect, there is now the possibility of new private contributes provided by innovative financing instruments like “project bonds”.
The next step is the adoption of the pilot phase of the Initiative by the European Parliament and the Council.