The European Court of Auditors (ECA) recently published Special Report 02/2026, titled “EU transport infrastructure – Further delays and some cost increases, but a reinforced governance framework is in place for the future”. This document critically updates their 2020 assessment of the Trans-European Transport Network (TEN-T) core network.

For the market, this report signals both caution and opportunity. While schedule slippage persists, the regulatory environment is shifting towards stricter oversight.

Here is Sartori’s analysis of the key findings:

1. The Reality of Delivery. The report confirms that several cross-border “megaprojects” face significant delays. The ECA warns that the 2030 completion deadline for the Core Network is now at risk for key sections.

Implications for the market:

• Revised timelines: Private partners must reassess commercial assumptions. Delayed operational start dates will impact revenue models for concessions reliant on connecting traffic.
• Brownfield focus: As greenfield megaprojects stall, we see a stronger case for investing in the optimisation of existing assets through digital signalling and bottleneck removal.

2. A Reinforced Governance Framework: The auditors highlight a positive development: the 2024 legal framework designed to strengthen Commission oversight. While late for current projects, it sets a higher standard for future developments.​

Implications for procurement:

• Stricter monitoring: Projects entering the pipeline will face rigorous reporting requirements. Sponsors should prepare for enhanced scrutiny on milestones.
• Better coordination: The framework aims to align national planning schedules, potentially reducing political risk for cross-border investments.​

Sartori’s View:

Public authorities may need to unbundle smaller packages from these stalled megaprojects. We see specific opportunities for private finance in station development and digital infrastructure overlays.​ The ECA’s 2026 report is a reality check. The vision of an integrated European network remains valid, but the delivery path is complex.

Investors should look beyond headline delays to find value in sub-sectors that plug the gaps. Public authorities must use new governance tools to restore market confidence. We are helping clients adjust their strategies to this evolving timeline, ensuring investment decisions reflect the actual pace of delivery.

Read the full ECA Special Report 02/2026 here