The European Union has approved a €325 million loan to modernize a 120km rail line in Albania.
The project will involve electrification, reconstruction of 12 stations, installation of a telecoms and signalling system, and safety improvements to allow trains to travel at speeds of up to 120km/h.
The rail line will extend the Mediterranean Corridor Trans-European Network and connect Albania’s capital Tirana with Montenegro’s capital Podgorica.
The funding, although Albania is not an EU member state, was approved under the Team Europe initiative, combining funds from the European Investment Bank, the EU’s Western Balkans Investment Framework, and the European Bank for Reconstruction and Development.
André Rizzo, EU business manager for Albania, highlighted the tangible benefits of EU integration as the region moves forward. He said, “The railway line will bring faster and safer travel for both cargo and passengers along the Adriatic coast.”
Construction Briefing
