March 20, 2020 / 10:51 AM / 4 months ago

EU okays Danish aid for rail-road link to Germany

FILE PHOTO: European Commissioner for a Europe Fit for the Digital Age Margrethe Vestager speaks during the presentation of the European Commission's data/digital strategy in Brussels, Belgium February 19, 2020. REUTERS/Yves Herman/File Photo

BRUSSELS (Reuters) - EU state aid regulators cleared on Friday Danish financial support for a rail-road link between Denmark and Germany, part of the North-South route connecting central Europe and the Nordic countries.

“The positive effects of the project clearly outweigh any potential distortion of competition,” European Competition Commissioner Margrethe Vestager said in a statement.

The Fehmarn Belt fixed rail-road link includes a 19 km long undersea tunnel between the island of Lolland in Denmark and Puttgarden in Germany, consisting of an electrified, double-track railway and a four-lane motorway.

Copenhagen is providing capital injections, guarantees on loans and state loans to builder Femern A/S.

Reporting by Foo Yun Chee and Marine Strauss @StraussMarine

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