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FOUNDER & PUBLISHER Kowie Geldenhuys
EDITOR-IN-CHIEF Paulo Coutinho
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Home›Macau›The Buzz | German government signs $96 billion rail infrastructure plan

The Buzz | German government signs $96 billion rail infrastructure plan

By -
Wednesday, January 15, 2020
102
0

The German government signed a deal yesterday with state-owned train operator Deutsche Bahn to inject almost $100 billion into the country’s rail infrastructure over the next decade.
Under the agreement, the federal government will contribute 62 billion euros ($69 billion) toward maintaining and modernizing the existing train network.
Deutsche Bahn will contribute 24 billion euros (about $27 billion) to the plan that will see ageing tracks and railway bridges replaced.
Transport Minister Andreas Scheuer said the investment – a 54% increase over the previous planning period – would herald a “shining age” for Germany’s railways.
The German government has pledged to expand rail travel as part of its efforts to cut emissions of planet-heating greenhouse gases from transportation.
It recently agreed to cut a value-added tax for train tickets, reducing the cost of long-distance journeys by about 10%.

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