EU To Pour €450M Into Rail Innovation Through 2020

Law360, New York (December 16, 2013, 2:24 PM EST) -- The European Commission announced Monday that it will invest €450 million (US$619 million) to develop better rail systems throughout Europe through 2020 — an amount that will be matched by €470 million from the rail industry, as part of a new public-private partnership dedicated to rail research and innovation.

The commission said the partnership, called Shift2Rail, is aimed at getting more passengers and freight onto Europe's railways, which it describes as among the most efficient and climate-friendly forms of transportation. Currently, rail carries about only 10...
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