The European Investment Bank (EIB) has approved a €250m loan to the Greek city of Thessaloniki to fund phase 1 of the city’s new metro project.

Phase I of the 9.6km Thessaloniki Metro project will run from Thessaloniki railway station at the western entrance to the city all the way to the south-eastern part of the city.

The metro will run on a double track, stopping at 13 stations and one depot for repair and maintenance services.

The Thessaloniki Metro project will also include the installation of the required electromechanical and railway systems as well as the purchase of rolling stock.

Supplementary works, mainly for parking and transfer facilities, utility networks and the training of personnel, are also included.

The Thessaloniki Metro project follows on the heels of the successful Athens metro project and has been given support from the Greek State, the European Union and the EIB, who view the project as an essential public and business service.