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Oct 29, 2020 at 7:38 AMThe Federal Council aims to create the conditions for the Cargo sous terrain project to be realized with the law for underground freight transport facilities. In its meeting on October 28, 2020, it approved the message to Parliament. The law ensures that access to the underground facilities is open to all on equal terms.
Bern) – The Federal Council submits a law to Parliament that regulates the conditions under which the privately initiated Cargo sous terrain project can be approved. However, the federal government will not participate in the financing of the construction and operation of the corresponding facilities. The federal government also insists that a Swiss majority in the facility must be ensured throughout its entire lifespan.
Independent Area for Transport Planning
The approval procedure largely aligns with the Railway Act (EBG). The underground freight transport facility will be included as an independent area in the transport planning. The operators are subject to the principle of non-discrimination. They must fulfill their transport obligations and provide access on equal terms.
Tunnel between Central Switzerland and Northwestern Switzerland
The Cargo sous terrain concept envisions a three-lane underground tunnel between important logistics centers in Central Switzerland and Northwestern Switzerland, which will operate around the clock. Goods are to be transported at around 30 kilometers per hour and automatically fed into or removed from the system at access points using lifts. The full expansion is expected to cover a network of 500 kilometers and be completed by around 2045. The construction costs are estimated at 30 to 35 billion Swiss francs.
The investors expect significant benefits from the realization of Cargo sous terrain. The logistics sector and the construction industry are expected to benefit directly. The economic benefit for the public sector and the general public is lower but includes, among other things, the reduction of traffic congestion and emissions of pollutants and greenhouse gases.
New Investments from Switzerland
CST welcomes Vaudoise Insurance as a new investor from Switzerland for the building permit phase, which is already providing funds for project development. The building permit phase begins with the entry into force of the law. In this phase, CHF 100 million will be made available to advance the planning and development of the project to the approval stage. The CHF 100 million is contractually secured, linked to the entry into force of the law. At the same time, other Swiss investors have also increased their contributions for the building permit phase and are already providing additional funds.
Vaudoise is one of the ten largest private insurers in Switzerland. Founded in 1895, the company is the only independent insurer with its headquarters in the Romandy region. By immediately entering the shareholder structure as a main investor, Vaudoise also takes a seat on the board of directors: “It is important for us to actively shape this ambitious key project for a sustainable future of Switzerland as a significant representative of the economy in Western Switzerland,” explains Vaudoise CEO Jean-Daniel Laffely.
“I am particularly pleased that we can expand the Swiss majority to two-thirds of all shares in the building permit phase thanks to the new Swiss investors and the exit of the Chinese financiers,” explains Daniel Wiener, Head of Investor Relations at CST. “At the same time, we continue to receive support from European investors who bring extensive international experience with privately financed infrastructures,” adds the CFO of CST.
CST President Peter Sutterlüti is pleased with the Federal Council’s announcement today and the broad support for CST: “We are very grateful to the federal government and the Federal Office of Transport for enabling us to reach this important milestone. We now look forward to the parliamentary debate with confidence.”
Image: © Cargo sous terrain AG
