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Company News, 2002-02-23, 01:00 AM

Government funding for Transrapid lines in North Rhine-Westphalia and Bavaria

Professor Dr. Ekkehard Schulz, Executive Board chairman of ThyssenKrupp AG, welcomes the positive decision by the German Ministry of Transport.

With the world`s first Transrapid line currently under construction in Shanghai, the pledged grants now represent a major step forward in introducing this advanced transportation technology in Germany.

According to Prof. Schulz, the decision on the allocation of the 2.3 billion euros between North Rhine-Westphalia (Metrorapid) and Bavaria (Munich airport link) also creates the basis for the full financing package for the two lines.

"The decision in favor of Metrorapid and Transrapid in Germany not only represents a major contribution to improving the transport infrastructure, it also sends out a clear signal regarding the technical capabilities of German industry. We and our partners at Siemens are confident that this decision will provide a boost to other Transrapid projects currently under discussion outside Germany", said Schulz.

Contact:

Klaus Pepperhoff, ZB Kommunikation/Presse
Telefon +49 (211) 824-36002
Telefax +49 (211) 824-36005
E-Mail: presse@tk.thyssenkrupp.com

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