The executive arm of the European Union says it will give $620 million to a research program trying to develop new railroad technologies by 2020.
December 16, 2013 at 08:00 AM
1 minute read
The executive arm of the European Union says it will give $620 million to a research program trying to develop new railroad technologies by 2020.
The European Commission said in a statement Monday it will fund the program, together with companies active in the railway industry including Siemens, Thales, Alstom, and others. The private companies are to fund a matching amount but have so far pledged only $371.7 million.
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