ÖBB’s Debt Will Amount to € 30bn in 2020

Politics ♦ Published: July 4, 2011; 17:17 ♦ (Vindobona)

Large infrastructure development projects will almost double the Austrian Federal Railways’ debt. In relation to other European countries, Austria spends the second highest amount per capita on the expansion of rail networks.

ÖBB’s Debt Will Amount to € 30bn in 2020 / Picture: © Vindobona.org

“The financial liabilities of ÖBB Infrastruktur AG will amount to approximately € 30bn in 2020”, said Minister of Transport Doris Bures. The federal railways’ debt most recently stood at almost € 18bn, 90% of which came from the infrastructure segment. The massive increase in debt will be a result of ÖBB’s three large tunnel projects. Total construction cost of the Brenner…