Project Detail |
The project consists of the upgrade of 178 km of the Palermo-Catania railway line (between Fiumetorto and Bicocca), which is part of the Scandinavian-Mediterranean TEN-T Corridor. The project connects the northern and eastern coastal urban areas of Sicily with internal parts of the region. The final objective is the construction of an electrified double track railway with an increase in design speed and capacity. The EIB financing will be provided both through direct lending to the Italian State and Linked Risk Sharing operations with acceptable financial institutions, aiming at counter-guaranteeing advance payment and performance bonds that financial institutions will provide to the procurement authority (Rete Ferroviaria Italiana) in reference to contractors obligations for the project construction contracts. Objectives The project is expected to increase the quality of rail services in Sicily, a less-developed region in southern Italy, as well as promote travel by rail, enhance sustainable transport and contribute to reduction of greenhouse gas (GHG) emissions and therefore to climate change mitigation in line with EU objectives. The project is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) projects of common interest of the Treaty on the functioning of the European Union. The project will also contribute to meeting the Banks climate action target. Comments Total Project Costs include EIB estimation of interests on the EIB loan during the construction period as well as technical and financial contingencies. Sector(s) Transport - Transportation and storage Proposed EIB finance (Approximate amount) EUR 2100 million Total cost (Approximate amount) EUR 7630 million |