Mon, May 28, 2012, 1:43 PM EDT - U.S. Markets closed for Memorial Day

Italy's new private train system readies to start

Italy's new high-speed train service due to begin next month

ROME (AP) -- A new high-speed train line is set to begin service next month, linking nine Italian cities from Naples in the south to Turin, Milan and Venice in the north.

Luca di Montezemolo, chairman of the NTV line, said Tuesday that it is the first totally private high-speed line in Europe.

The project began in 2008 and has brought in such major partners as shoe industrialist Diego Della Valle, Intesa San Paolo bank, Generali Financial Holdings and French railway company SNCF.

NTV is going up against the state-controlled railroad and hopes to break even in three years.

Montezemolo said passengers "finally will have a choice'" of which trains to use.

 

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