Last week it was announced that an agreement has been reached to build a new high speed rail between France and Italy.
The route, between Lyon and Turin, has been pretty controversial but it appears that the French and Italian governments have now agreed on the EUR8.5bn plan, with approximately 40% of the funds coming from the European Union.
The route will cut down the travel time from Paris to Turin from 7 hours currently to a proposed 4 hours. That suggests that rail will take approximately a 40% share of the traffic on that route.
These cross-border projects are particularly exciting as it is another sign of the impact of deregulation in the European rail carrier market. It is unclear at the moment which carriers (SNCF? TrenItalia? Italo?) will be servicing this route, but any of those are potential candidates.