Poland approves railway infrastructure investment plan

The Polish Cabinet approved 2011-2013 multi-year railway infrastructure investment plan comprising over 100 projects worth PLN 20.44 billion, the Cabinet's press office announced after the Cabinet sitting on Monday.

"The program assumes construction of new railway infrastructure and modernization or restoration of existing infrastructure," the press statement read. "It also takes into account preparatory works for further investments, including high-speed railway."

The program will be financed with public means, EU funds and PKP PLK railway operator's own funds, the statement showed.

In order to contribute to the EU financing, PKP PLK will have to secure a EUR 910 million loan from the European Investment Bank, underwritten by the Treasury, the press office wrote.

The most important projects on the list include modernization of a rail connection between Warsaw and Gdansk agglomeration, as well as a connection between Warsaw, Katowice and Krakow.