A cross-border rail service between Belfast and Dublin is set to benefit from a £141.9m investment.
The investment is part of the Peace Plus initiative, which funds projects in Northern Ireland and border counties.
The funding will support a large-scale program aimed at providing an hourly service between Belfast and Dublin.
All existing Enterprise trains will be replaced by brand new trains by the end of this decade, which will reduce journey times.
Ian Campbell, from transport company Translink, said the announcement was “good news” and “much needed”.
Mr Campbell said the funding would allow the current four company trains to be replaced with eight new trains.
He said the trains would allow for “improved accessibility and passenger experience” and reduce journey times by “about 15 minutes”.
He added that the trains will “ultimately be designed to operate as a net-zero service using sustainable technology”.
Mr Campbell said the hourly service was “hugely needed” as Translink expects demand for 2 million passenger trips on the service by 2030.
Funding is also provided by the Department for Infrastructure (DfI) in Northern Ireland and the Department for Transport in the Republic of Ireland.
The Enterprise Rail Service, jointly operated by Northern Ireland Railways and Ianrod Eiryan, has provided the transport link between Belfast and Dublin for over 75 years.
The eight new trains will reduce travel time between the two cities to one hour and 55 minutes.
The procurement process for the new train sets is expected to be completed within the next year.
It is scheduled to begin operation in 2029.
Parts of the route are designed to run on electric and battery power, with an option to convert to fully electric in the future.
Northern Ireland’s Infrastructure Minister John O’Dowd said this was an “exciting time for rail travel”.
“The new vehicles pave the way for Enterprise Services to become the island’s first electrified intercity service and support our decarbonization efforts.”
Northern Ireland Minister Chris Heaton-Harris said the investment “creates unique and exciting opportunities” for Northern Ireland and the Republic of Ireland.
“We should not underestimate the impact this infrastructure will have on the region’s economic growth by ensuring we have the right conditions in place to thrive, prosper and become a top investment destination in the world.”
Ireland’s Transport Secretary Eamonn Ryan said: “This is a step forward in our ambition to put the island of Ireland on the path to a new era of rail, connecting more cities and towns and delivering quality rail services to more people. It’s a new manifestation.”
What is Peace Plus?
The new funding scheme was launched in September 2023.
This replaced the pre-Brexit peace plan that had been in place since 1995.
The scheme applies to the border counties of Northern Ireland and the Republic of Ireland: Donegal, Sligo, Leitrim, Cavan, Monaghan and Louth.
This is the successor to the Peace IV plan, which focused on children and young people, shared education, shared spaces and positive community relations.
Some of its best-known projects include the Peace Bridge over the River Foyle and the regeneration of Girdwood Barracks in north Belfast.
Peace Plus is funded by the UK, Ireland and the EU.
Peace Plus is managed by the Special European Union Programs Agency (SEUPB).
The company’s chief executive, Gina McIntyre, said the investment would act as a “catalyst for regeneration and economic growth for all areas along the Dublin to Belfast Economic Corridor”.
Elisa Ferreira, the European Commission’s cohesion and reform secretary, said the investment would bring “tangible benefits” by improving connectivity between Belfast and Dublin.