Ferrovie dello Stato Italiane (FS) says it is best placed to challenge Eurostar’s long-running monopoly on Channel Tunnel services, which began in 1994. The operator is among several firms, including Sir Richard Branson’s Virgin Group, seeking to enter the market.

Francesco De Leo-Kaufmann, international head of FS, said the company’s experience on the continent and access to a new fleet of trains gave it an edge over competitors. FS runs Italy’s high-speed Frecciarossa network through its Trenitalia subsidiary, which operates services at up to 300km an hour and co-owns Avanti West Coast in the UK.

De Leo-Kaufmann said FS had earmarked between £800 million and £1 billion to be “plugged into this project”.

He added: “A clear portion of it will be dedicated to Ashford because we need to build up our innovation out there.”

The company plans to establish its first international “Innovation Hub” inside Ashford International station in early 2026, with passenger services between London and Paris expected to start in 2029.

FS says part of its motivation for investing in Britain is the country’s strength in developing advanced technology.

De Leo-Kaufmann said: “We feel that Great Britain is very well positioned to become the hub for accelerated computing.”

Eurostar, which began serving Ashford International in 1996, has focused in recent years on connecting major European city hubs following its merger with Thalys in 2023. The operator has said it will not reopen Ashford or Ebbsfleet before 2026, but insiders suggest such a move is unlikely in the near term.

Rail minister Lord Hendy has supported proposals to bring Kent stations back into service.

He said: “I firmly believe that competition offers the best prospect of international services returning to Kent stations.”

IThe process of introducing new Channel Tunnel operators has been slowed by disputes over access to the Temple Mills servicing depot in east London, but FS says its plans remain on track.