Dutch start-up joins race to rival Eurostar
Heuro is in talks to run 15 journeys per day between Amsterdam and London
A Dutch train start-up is preparing to enter the race to launch a rival service to
Eurostar running through the Channel Tunnel.
Heuro is in talks to raise €1bn (£880m) and hopes to introduce its rail service within the next five years.
It is vying to compete with the Eurostar and Spanish company Evolyn, which has also
revealed plans for a new Channel Tunnel service.
Virgin’s
Sir Richard Branson is also striving to break Eurostar’s monopoly.
All are aiming to capitalise on the liberalisation of the train network in Europe, which has made it easier for challenges to bid for new services.
Heuro is led by Maarten van den Biggelaar, an entrepreneur who has made millions from media ventures and other investments.
Mr van den Biggelaar said Heuro has held talks with rail manufacturers to secure enough trains by 2027-28 to run 15 journeys per day between Amsterdam and London, including stops in Brussels and Paris.
This is considerably more than the four journeys that Eurostar currently runs between London and Amsterdam on an average weekday, according to its current timetable.
Mr van den Biggelaar said: “Last year we saw the market opening up a little bit in France, Italy and Spain.
“We then investigated [to see] if there were excess possibilities and found that to be the case after discussions with infrastructure managers.”
The high-speed rail network in Europe became open access following the introduction of new EU rules in 2016. It means companies that are not already operating routes can bid for space on the tracks. This has led to a flurry of new operators striving to break into the market.
Eurostar has held a relative monopoly on rail journeys from London to Paris ever since it launched in 1994. Campaigners have long argued that greater competition is needed to reduce fares.
Dr Erich Forster of Brussels-based lobby group Alliance of Passenger Rail New Entrants said: “Start-ups such as Heuro are the future of passenger rail.
“We look forward to an alternative to the current situation where – with only one operator – the market is chronically underserved.”
Mr van den Biggelaar said Heuro has raised 10pc of its desired funding target and is now looking for investment in two further investment rounds.
He said the company’s headquarters could be based in Amsterdam, London or Paris.
Mr van den Biggelaar founded Dutch business magazine Quote in the late 1980s. The title, which publishes an annual list of the 500 wealthiest people in the Netherlands, was sold to French group Hachette, the publisher of Paris Match, for a reported €22m in 2006. Mr van den Biggelaar has since gone on to make a range of investments.
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. (That is since no Eurostar services stop there).