Company seeking to develop new systems to rehabilitate and maintain tracks in Austria
The European Investment Bank (EIB) is supporting the rehabilitation of railway tracks in Austria with a loan of EUR 50m. The EU bank is providing the Austrian company Swietelsky Baugesellschaft mbH funds from the "InnovFin" budget, a joint financing programme of the EIB and the European Commission focusing on the promotion of research and development activities (R&D) in Europe. The loan contract was signed today in Luxembourg.
Swietelsky is seeking to develop new systems to rehabilitate and maintain tracks on standard and high-speed railway sections more rapidly and at lower costs.
This will enhance the operability and the overall efficiency of the networks. In addition, the R&D programme is aimed at further reducing downtime on railways due to maintenance. The research project also encompasses the construction of two prototypes for special rail maintenance equipment. The maintenance of railway tracks is a key factor in determining maximum permissible train speeds and axle loads. Swietelsky will carry out the work in its research centre in Fischamend near Vienna.
EIB Vice-President Wilhelm Molterer stressed the importance of the project's contribution to rapid and integrated railway transport. Moreover, substantial manufacturing activities and therefore positive effects on employment were expected. "The railway sector is a core component of European infrastructure policy. This creates an even greater need for reliable and safe tracks, which are vital for smooth and environmentally-friendly rail transport.”
European Investment Bank
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