New travel system for Europe delayed again, to 2025
The planned development of a new high-speed travel system for Europe has been delayed once again, this time to 2025.
The project, known as the Trans-European Transport Network (TEN-T), has been in the planning stages for several years, with an initial planned launch date of 2020. But due to a number of delays caused by disagreements between countries over the financing of the project, construction has yet to begin.
Now, the European Commission (EC) has released a new timetable which reveals that the first phase of the project is expected to be operational by 2025.
The EC has said that the delay is largely due to a lack of sufficient financing for projects such as TEN-T. Currently, the project is only funded by member states on a voluntary basis, resulting in long delays in construction.
In order to speed up the project, the EC is now making more money available to the TEN-T, as well as launching a new initiative to attract private investment in future investments.
Despite the delay, the EC insists that TEN-T will be an “ambitious and necessary” project for the region, helping to make transport networks more efficient and aiding economic development.
At the same time, the EC also warned that it is important for member states to cooperate in order for the project to be a success, as many countries have so far failed to provide adequate funding. It is hoped that the new timeframe will be enough to encourage countries to unite and secure the necessary funds.