Germany Pledges USD192.5B to Transform Infrastructure by 2029
(MENAFN) Germany is preparing to invest €166 billion ($192.5 billion) to upgrade its infrastructure by 2029, the Transport Ministry announced Tuesday.
The federal government plans to dedicate €107 billion ($124 billion) to modernizing railways, roughly €52 billion ($60 billion) for highway improvements, and €8 billion ($9.2 billion) to enhancing waterways.
These funds will come from the regular budget alongside a special €500 billion ($579 billion) fund earmarked for infrastructure modernization.
Among the main projects are digitizing the railway system and maintaining the country’s bridge network.
The total investment of €166 billion ($192.5 billion) will be evenly distributed over five years, from 2025 through 2029, with annual spending of €33 billion ($38 billion).
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
