PKP PLK wastes EU railway funds worth EUR 1.48bn

It has been revealed that the Polish state-owned rail infrastructure management company PKP PLK will lose 30% or PLN 6bn (EUR 1.48bn USD 1.82bn) out of PLN 19bn EU funds that have been allocated for the period of 2007-13, according to Logistics Finland. This is because of delays in investment preparations and impossibility to provide own contributions. The wasted EU funds were supposed to be put towards the modernization of tracks from Szczecin via Poznan to Wroclaw, the modernization of Warsaw-Bialystok line, and the modernization of railways further east towards Lithuania.
(Source:www.transportweekly.com)