TIRANA, July 26 (Xinhua) -- The European Union (EU) has granted 136 million euros (148.2 million U.S. dollars) to help reconstruct the Vore-Hani i Hotit railway line in Albania, following an agreement Friday between the EU, the Ministry of Finance of Albania and the European Bank for Reconstruction and Development (EBRD) in Tirana.
According to the Ministry of Finance of Albania, the fund is the largest EU grant received so far by Albania.
The railway is a part of the EU's strategy to extend the Trans-European Transport Network (TEN-T) to the Western Balkans region.
The total investment for the project will reach 373 million euros and be co-financed with loans from European Investment Bank (EIB) and EBRD. It will help Albania electrify more than 120 km of railway tracks and renovate 12 train stations, as well as construct a new signaling system and other safety improvements. The targeted operating speed of the railway system is 100 km per hour. (1 euro = 1.09 U.S. dollar) ■
