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LKPG - Luka Koper Dd News Story

€20.4 0.4  2.0%

Last Trade - 16/04/21

Sector
Industrials
Size
Small Cap
Market Cap £247.5m
Enterprise Value £260.7m
Revenue £181.7m
Position in Universe 126th / 646

Slovenia to invest 1 bln euros in new railway line

Thu 30th March, 2017 2:07pm
LJUBLJANA, March 30 (Reuters) - Slovenia plans to invest 
about 1 billion euros ($1.1 billion) on a new railway line 
between its sole port, Luka Koper  LKPG.LJ , and the city of 
Divaca, which will connect with the line that runs to the 
capital Ljubljana. 
    The government expects to cover about a quarter of the cost 
with European Union funds, while about 350 million euros will be 
raised via new debt, Infrastructure Minister Peter Gaspersic 
told a news conference on Thursday. 
    Slovenia hopes some of the investment will also be covered 
by countries that use the port for imports and exports. These 
include Hungary, Austria, the Czech Republic, Slovakia and 
Poland. 
    So far, only Hungary had said it is ready to invest in the 
project, the government said, without giving details. 
    "The project will benefit not only the Slovenian economy, 
but also economies of other countries (Austria, Hungary, the 
Czech Republic, Slovakia) which are connected to the port of 
Koper and account for 70 percent of its cargo traffic," the 
government said in a statement. 
    It added the project would reduce the length of travel by 
about 17 kilometers and the time of travel by about half an 
hour, while also enabling trains to run faster. About 75 percent 
of the 27-kilometre track will run underground.  
    It will be one of the biggest state investments in the 
coming years. It is not yet clear when it could be completed. 
    The International Monetary Fund said on Tuesday public and 
private investments were likely to boost Slovenia's GDP this 
year and the next, forecasting the economy would expand by 3 
percent in 2017 and 2.3 percent in 2018.  urn:newsml:reuters.com:*:nL5N1H528J 
    ($1 = 0.9324 euros) 
 
 (Reporting by Marja Novak; Editing by Mark Potter) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805, Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: SLOVENIA RAILWAY/
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