Train services from Belfast to Dublin are set to benefit from £141.9 million investment from the PEACEPLUS Programme.
Procurement of the new trains is expected to be finished in the coming year, with a view to them all being in operation by 2029. Ireland's Transport Minister Eamon Ryan added: "I welcome this significant investment in the Enterprise Fleet Replacement Programme. The flagship Enterprise service is a very visible and well-known symbol of North-South cooperation and this replacement programme is a key priority of both Governments.
PEACEPLUS funding comes from a partnership between the European Union, NI Executive, Irish Government and the UK Government. It has been designed to promote peace and prosperity across Northern Ireland and Ireland's border counties with €1.14 billion to be spent over the next five years. Northern Ireland Secretary of State, Chris Heaton-Harris MP, said: "The transformation of cross-border rail services between Belfast and Dublin is going to create unique and exciting opportunities for both Northern Ireland and the Republic of Ireland alike.