Railway operator approves €26bn investment plan

SNCB Group has approved a €26bn investment plan for Belgium’s rail network, reports Flanders News. The investment programme will be spread over 12 years between 2013 and 2025. The state-owned rail company will ask the federal government for more than €24bn of the €26bn it plans to invest. Although the SNCB Group has approved the investment plan, the federal and regional governments must also give it the thumbs up before it can be implemented. The lion’s share (€24.225bn) of the money would come from the Federal Government, while €770m would come from the fund that finances the Regional Express Network around Brussels; €344m from ‘alternative sources’ and €236m from NMBS Group’s own means. A total of €5.228bn is ear-marked for improvements to safety, €16.1bn for improving rail service, €2bn for infrastructure and €1.5bn for so-called priority projects in Flanders and Wallonia to ease the strain on the rail network within greater Brussels. SNCB spokeswoman Leen Uyterhoeven calls it is an ambitious plan, saying "it includes a whole range of things that are needed such as new trains, additional lines and investments in stations. All this will be spread over a period lasting until 2025.” The investment plan will be sent to the federal minister responsible for state-owned companies, Paul Magnette, who  will forward it to the regional governments. SNCB Group made a € 2.1m profit during the first 9 months of the year. This compares to losses of €110m in during the first 9 months of 2011. The company’s total debts amount to €3.5bn.