ROME (Reuters) – A Franco-Italian railway link would be a waste of public money and have a “strongly negative” financial impact, Italy’s transport ministry said on Tuesday in a report that will heighten tensions within the coalition.
Work has already started on a 58-km (36-mile) tunnel that cuts through the Alps and is forecast to cost 8.6 billion euros ($9.7 billion), with France and the European Union joining with Italy to foot the bill.
Rail - Link - Ruling - League - Party
The whole rail link, which is backed by the ruling League party but fiercely opposed by its government partner the 5-Star Movement, has a price tag of more than 20 billion euros, Italy’s transport ministry says.
The 79-page cost-benefit analysis estimated that the cost of building the so-called TAV route and its projected economic return produced a negative balance of between 7.0-7.8 billion euros ($7.9-$8.8 billion).
Everyone - Numbers - Analysis - Transport - Minister
“As everyone can now see for themselves, the numbers of this economic and transport analysis are extremely negative,” said Transport Minister Danilo Toninelli, a 5-Star politician who commissioned the contested report.
“It is now up to the government to make a decision.”
League - Line - City - Lyon - Turin
The far-right League says the line connecting the French city of Lyon with Turin is vital to Italy’s export-driven economy. It made no immediate comment...
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