EIB to invest €2bn into Italian rail

The European Investment Bank (EIB) has agreed to a record-breaking loan to fund a new high-speed rail link between Naples and Bari in southern Italy.

The project will be invested in as a part of the Trans-European Transport Network (TEN-T), which was established by the European Commission to handle future transport infrastructure projects.

In total, the rail connection is set to cost roughly €6.3 billion.

In total, the new project will consist of building a 2.6km tunnel, the construction of three new stations, 4km worth of viaducts, an overhead power supply system and an extension to the command and control system, as well as numerous other smaller things such as steel bridges where the railway lines cross.

The project is already underway, with several developers already getting to work on the 15km stretch between Naples and Cancello.

At its peak, the project is expected to create 2000 jobs and aims to promote a shift from air and road transportation in Campania and Puglia, two of Italy's less-developed regions.

It has been registered as a priority by both the EU and the Italian government. The new line is expected to boost connections between some of Europe's most important regions.

The rail line is also expected to have several environmental benefits by reducing emissions and noise pollution.

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