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Slovenia Government To Allow Cheaper Financing For Divača-Koper Port Rail Track Expansion

Slovenia government to allow cheaper financing for Divača-Koper port rail track expansion

Source: European Investment Bank
MEPs have adopted a guarantee law for the Divača-Koper 2nd track and the 3rd development axis, which we have prepared at the Ministry of Infrastructure in order to speed up and reduce the cost of implementing these important infrastructure projects – Government of Slovenia – December 18, 2019 “The law will allow cheaper financing of the 2nd track and the 3rd development axis,” Minister of
Infrastructure Alenka Bratusek explained when considering the draft law. She called on the lawmakers to support the bill so that we “continue to build on both” with full steam. The Divača-Koper project is an important project for the development of the port of Koper and thus of the entire Slovenian economy. By constructing a new railway line, we will create the conditions for job creation, we will improve the lives of people living along the existing Divača-Koper railway line, we will redirect freight from roads to railways, reducing the negative environmental impacts of goods throughput. Everything is ready for the start of the construction of the 3rd development axis, which will further improve Slovenia’s extraordinary geostrategic position in the center of Europe, thus creating the conditions for even more foreign investment with us. With the new expressway, Slovenia will develop more evenly, and Korošice and Korošci will finally get a faster and safer connection with Ljubljana and the rest of Slovenia, which they deserve. The Guarantee Act of the Republic of Slovenia defines the obligations of 2TDK doo for loans and debt securities leased or issued to finance the construction of the second track of the Divača-Koper railway line . The Act also defines the obligations of DARS dd for loans and debt securities leased or issued to finance the construction of part of the 3rd development axis. The bill regulates the granting of a state guarantee to 2TDK doo for financing the project of construction of the second track of the Divača-Koper railway line up to a total amount of €417 million and to DARS dd for financing the construction of two sections on the 3rd development axis north and the construction of the section on the 3rd development axis south totaling up to €360 million. All sections included in the Act are already approved investment programs. “Excluding the bank rehabilitation, less than one percent of the state’s guarantees have been realized so far. I am convinced that there will also be no guarantee for these projects, as the sources for repayment of these loans are very carefully planned”, Minister Bratusek told MEPs . “Many times in the Parliament we mention the TEŠ6 project, for which the state gave a guarantee, but even in this project, which went really very wrong, not a single euro was cashed”. The Minister recalled that after hard negotiations the  Ministry, the Government and the 2TDK were able to obtain up to €250 million loans from the European Investment Bank (EIB), which, however, conditioned it by accepting a State guarantee for the loan. In addition, the Resolution on the National Program for the Development of Transport in the Republic of Slovenia for the period until 2030, approved by the National Assembly at the end of 2016, stipulates that DARS investments, such as the 2nd Development Axis project, are subject to the adoption of a guarantee law. “Both projects have been identified as strategic in the National Transport Infrastructure Development Program until 2030, both of which carry the same weight for us, which is why we have drafted one guarantee law,” said Secretary of State for the Ministry of Infrastructure Nina Mauhler. Source: Government of Slovenia

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