EU Clears Aid For Denmark's €8.7B Tunnel Project, Again
Law360 (March 20, 2020, 5:55 PM EDT) -- After a court ordered it to take a closer look at public financing for a planned €8.7 billion ($9.35 billion) rail and road tunnel project linking German and Danish islands, Europe's competition enforcer again concluded the endeavor is in line with state aid rules.
The European Commission on Friday approved Denmark's public financing model for the Fehmarn Belt project, a nearly 12-mile submerged tunnel between the island of Lolland in Denmark and the island of Fehmarn in Germany. Executive Vice-President Margrethe Vestager, head of competition policy at the commission, said in a statement the project will help integrate the regions and...
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