EIB Backs €18 Million Zugspitze Cable Car Upgrade in Austrian Tyrol
The European Investment Bank said on October 16 that its team visited the western Austrian state of Tyrol to review an Alpine tourism upgrade project. Family-owned Tiroler Zugspitzbahn is investing €18 million in its facilities in Ehrwald, including an improved cable-car boarding area, an underground car park with around 85 spaces, and upgrades to ski slopes and snowmaking equipment. The EIB is contributing €3.5 million in financing channelled through Hypo Tirol Bank.
EIB Vice-President Karl Nehammer, who joined Tyrol Governor Anton Mattle on the visit, said European financing must reach the places where businesses invest, and that small and mid-sized companies need reliable financing partners to modernise and stay competitive. Managing Director Franz Dengg said the company is investing in the long-term development of its location, with modern infrastructure and guest comfort as priorities.
The cable car links Ehrwald, near the Austrian-German border, to the summit of Zugspitze, Germany's highest mountain at more than 2,900 metres, and the company also runs the Ehrwalder Alm ski resort. The financing forms part of a €100 million partnership between the EIB and Hypo Tirol Bank, with each institution contributing €50 million to support growth, innovation and sustainable investment by Austrian businesses.
Source: GSM · USA (original Chinese edition)
Photo: 图：楚格峰上的缆车站与车厢。图片来源：Tiia Monto，CC BY-SA。Photo: Cable car station and cabin on the Zugspitze. Image: Tiia Monto, CC BY-SA.
