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Investing.com -- Getlink shares rose 2% after the Office of Rail and Road (ORR) approved Virgin Trains Europe’s (VTE) application for access to the Temple Mills International Depot (TMI).
The ORR considered applications from four companies - Virgin, Evolyn, Gemini, and Trenitalia - along with a submission from the existing facility owner, Eurostar. The regulatory body rejected the other submissions, stating there is insufficient capacity at TMI to accommodate them in addition to VTE.
Jefferies views the approval as "a positive step towards increased passenger traffic through the tunnel," noting that Virgin has plans to carry approximately 6 million passengers with operations starting from 2030.
The decision marks an important development for VTE’s expansion plans in the European rail market.
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