Council adopts Shift2Rail regulation
The Council of the European Union has adopted a regulation setting up the public private partnership Shift2Rail Joint Undertaking.
It will manage a research and innovation work programme to support the development of better rail services in Europe. Located in Brussels, it will be officially established in early July, with operations expected to kick off in early 2015.
Shift2Rail’s goal is to double the capacity of the railway transport system, to reduce its lifecycle cost by 50% and to improve reliability and punctuality by 50%.
The innovative technologies and solutions to be developed, demonstrated and validated by Shift2Rail are expected to boost the EU rail sector’s competitiveness vis-à-vis other modes of transport and foreign competition, as well as to create jobs and increase exports.
The new undertaking will manage all rail-focused research and innovation actions co-funded by the EU. It will actively promote the involvement of all relevant stakeholders, including, manufacturers of railway equipment, passengers’ and freight associations, and the relevant scientific community.
The EU’s share of the funding will come from the Horizon 2020 programme, and it will amount to a maximum of €450m over the period 2014 to 2020. Additional funds may be allocated from other EU instruments to support the deployment of Shift2Rail’s innovative solutions. The industry’s total contribution will be at least €470m.
Shift2Rail’s mandate will end on 31 December 2024.
