The European Investment Bank provided a loan of EUR 255 million to REFER (Rede Ferroviária Nacional) for the modernisation of four suburban railway corridors around the Lisbon and Porto Metropolitan areas.
A loan contract tranche of EUR 55 million was signed in Lisbon by Carlos Costa, EIB Vice President, and on behalf of REFER by Luis Filipe Pardal, President, and by Alfredo Vicente Pereira, Vice-President.
Continuing a long-standing cooperation with REFER, the national railway infrastructure operator, support for these new projects aims at improving safety, service quality and the competitiveness of railways.
The investments will help to reduce travel time and operating costs in keeping with the EU and national objectives to promote sustainable mobility.
The investments are crucial to modernise important railway infrastructure and to improve travel conditions, in heavily used suburban lines, thus contributing to refrain moving passengers from rail to road.
The 143km network improvements will take place, one on the Sintra Line (28 km) in Lisbon, and three in Porto: Douro Line (30km), Porto-Braga Line (54km) and on its branch line Lousado-Guimaraes (31km).
Travel time reduction, increased safety, e.g. by eliminating level crossings, urban improvements by remodelling of stations and halts, as well as facilitated interchange with other transport modes, are among the benefits expected both for passengers and freight.