Freight metro achieves new milestone

January 24, 2018

News

Bern – The initiators of the underground freight transport system Cargo sous terrain have mobilized 100 million Swiss francs. Investors include a Chinese company. The federal government can now create the legal framework for the large-scale project.

The initiators of Cargo sous terrain (CST) want to move freight transport underground, with unmanned, electrically powered vehicles traveling through a tunnel system. The network would stretch from Geneva to St.Gallen, with lines to Basel, Lucerne and Thun. The first step is to build a section from Härkingen in the canton of Solothurn to Zurich, which should be completed by 2030.

A legal framework is needed to implement the project, and thus must be set by the federal government, which has stipulated several conditions. This includes establishing a publicly limited company and raising capital in the amount of 100 million Swiss francs.

The initiators of CST already established a publicly limited company in March 2017, and CST AG has now announced that it was able to mobilize 100 million francs, half of which comes from Swiss investors. This was one of the federal government’s conditions.

Investors include existing shareholders, such as Coop, Migros, Swiss Post, Swisscom and Mobiliar. The new investors are Credit Suisse, Helvetia and the mechatronics company Gotthard 3, as well as the European infrastructure developer Meridiam and Dagong Global Investment Holding Group from China, which is active in technology development, investment consulting and infrastructure investments.

The financial commitments are contingent upon the law proposed by the federal government coming into force and the economic feasibility of operating the transport system.

Representatives from the cantons of Aargau, Bern, Solothurn and Zurich have formulated the prerequisites for realizing the project in their areas, according to a statement from CST. It has also been shown that CST will contribute towards relieving heavy traffic as the network expands. In addition, the cantons have indicated where they see a need for more detailed and concrete information on the project.

“From our point of view, it is crucial that the concerns of the cantons and CST are included in the planning,” said Peter Sutterlüti, chairman of the board of directors of CST AG.