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Business

Deutsche Bahn Reconsidering Building Projects

As Germany's premier railway, Deutsche Bahn, celebrates its ten year anniversary this month, top managers are considering cost-cutting measures, including the suspension of costly refurbishment and expansion plans for 2004, according to a report in the German daily, S ueddeutsche Zeitung, published on Tuesday. Among the casualties of the budget cuts may be the planned “ICE” (intercity express) route between Erfurt and Nuremberg, which would cut the total travel time between Berlin and Munich. The reason for the measures, according to the report: the federal government will reduce Deutsche Bahn’s funding by as much as €1.2 billion in 2004. With the Erfurt/Nuremberg stretch costing as much as €244 million, company executives are reconsidering whether the money would be better utilized elsewhere. A spokesman for Deutsche Bahn, however, stated that the extent of the budget cuts has not yet been established and it was too soon to tell how that would affect building projects.