Koper-Divaca rail line financing takes final and cheaper than expected form
The Slovenian government has reassessed the investment of the second track that will connect the Port of Koper with Divaca. The final version of the investment plan foresees financing of 1,109 billion euros for the project. Compared to the initial investment estimation, there is a 3,5 per cent decrease in the costs, despite setbacks attributed to the withdrawal of foreign investment and the increased energy and construction and raw materials prices.
The line’s final investment plan (NIP2) was preceded by an initial investment plan drawn by the Slovenian government in 2019 and a revised plan in 2021 (NIP1). The 1,109 billion euros worth of the project is 41 million euros less than the initial 1,150 billion budget. This is against the global economic situation with the general price increases in all sectors and inflation.
Most importantly, the overall investment remains lower than initially planned despite Hungary’s decision to withdraw from investing in the project. For the record, the Hungarian government plans to invest in the Italian port of Trieste, the direct competitor of the port of Koper. The investment in the Italian port will reach 200 million euros, which, coincidentally, is the amount that Hungary was supposed to invest in the Koper-Divaca line.
2TDK, the state-owned company responsible for the Koper-Divaca line construction, said that this should not be a significant issue since the project will be able also to absorb EU funds. It must be noted that the project is co-financed by the European Investment Bank (EIB), the CEF, the Slovenian government and commercial banks.
Ready by 2025
Construction to lay a second rail track on the Divaca-Koper route commenced in May 2021 and, by early 2022, was in the stage of tunnel excavation. The line will be 27 kilometres long, allowing trains to transit at speeds up to 160 kilometres per hour. The section is, in fact, part of not one but two TEN-T corridors: The Baltic-Adriatic and the Mediterranean.
According to the project company 2TDK, all construction works should be complete by 2025, with the first test train trips commencing in 2026, when it will also be determined whether the track will need improvements before going into full operation.
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