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FMG welcomes implementation agreement for construction of maglev rail link

26-Sep-2007

(CAPA) FMG, the Munich Airport operating company, welcomed

the announcement on 25-Sep-07 of the implementation agreement for the construction

of a Transrapid maglev (magnetic levitation) rail link between Munich’s

main railway station and Munich Airport.

"This is a key move to secure Munich's competitiveness that will generate an enormous boost for the economic development of the entire region. For Munich Airport this is a tremendous opportunity to continue its success story," said Dr Michael Kerkloh, CEO of FMG.

The maglev train, which will depart the Munich city centre for the airport every ten minutes, will reduce travel time from the current forty minutes to ten minutes, and will establish optimal linkage between the mainline railway system and the air transportation network.

Dr Kerkloh added, “In the future this will make it much more appealing for our passengers to come to the airport by rail. With the construction of a third runway and the implementation of the maglev rail link, our airport will remain future ready and competitive for a long time to come."

Construction of the roughly 40-kilometre line could commence in Summer 2008, and could be completed as early as 2012. The German Federal Government will found half the cost, providing approximately EUR925 million for the EUR1.85 billion project. The state government, railway operator, Deutsche Bahn, and the other key companies involved have agreed to increase their contributions and cover a EUR165 million financing gap.


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