June 26, 2017 / 9:57 AM / 7 months ago

EU approves French aid for Paris airport express rail link

BRUSSELS (Reuters) - The European Commission said on Monday it had approved French support for the construction of a 1.32 billion euros (1.16 billion pounds) express railway line between Paris and Charles de Gaulle airport.

France plans to grant state aid to a joint venture between SNCF Reseau and Aeroports de Paris, which will build and operate the line between Paris’s Gare de l‘Est and the airport in 2023.

The aid will be provided in the form of a tax-free grant, to be financed by a levy imposed from 2024 on all air passengers using the airport, except those in transit.

In addition In addition, a state guarantee type mechanism will guarantee payment of the concessionaire’s loans.

“The project will improve the coordination of different modes of transport, in line with the EU’s transport policy objectives,” the Commission said in a statement.

Reporting By Philip Blenkinsop

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below