The European Union finances the construction of the last leg of the Ankara-Istanbul High Speed Train Project with a grant of 136 million Euros and a European Investment Bank loan of 1.45 billion Euros. Spain is also contributing to the project with a loan of 500 million Euros.
The project, which will significantly shorten the travel time, is expected to support economic development, improve the quality of life and provide environmental benefits.
Transport Minister Binali European Union Yildirim Turkey Delegation Head, Ambassador Jean-Maurice Ripert, hosted on March 27 on Tuesday Köseköy train station in the groundbreaking ceremony will be run, EU Minister and Chief Negotiator Egemen Bagis, the European Commission's Vice President in charge of Regional Policy Normunds Popens with the ambassadors of many EU member states will also attend.
With the completion of this line, the travel time between Ankara and Istanbul will be reduced to three hours. The project is expected to contribute more than 3 billion Euros to the Turkish economy. In addition, the project will make a significant contribution to the protection of the environment by encouraging passengers who prefer road and airline to use trains and thus reducing harmful greenhouse gas emissions.
Ankara-Istanbul High Speed Train project in Turkey's EU accession process for determining the public policy priorities in the transport sector in the context and "Transport Sector Operational Program (TROP)" in the scope of so-called program is among the key priorities. The main objective of the program, between different modes of transportation in Turkey reconstitution of a reasonable balance.
Also signed a project in the amount of 188 million euros toward the modernization of the Ankara-Karabük-Zonguldak railway line between Turkey and EU to be taken during the ceremony. Thus, the amount of financial support from the EU for the railway sector will reach 2013 million Euros by 600.