DB Projekt Stuttgart-Ulm GmbH

What DB Projekt Stuttgart-Ulm GmbH does

DB Projekt Stuttgart-Ulm GmbH (PSU) is a wholly-owned subsidiary of Deutsche Bahn AG, founded in 2013 and headquartered in Stuttgart, Germany, that serves as the dedicated project company for the Stuttgart-Ulm rail infrastructure megaproject. The company manages a multi-decade portfolio of large-scale railway construction and digitization initiatives on behalf of public-sector partners, including the German federal government, the State of Baden-Württemberg, the City of Stuttgart, Verband Region Stuttgart, and Flughafen Stuttgart GmbH. Its core product portfolio comprises Stuttgart 21 (conversion of the terminal station into an 8-track through station with 4 new stations, 56 km of tunnel tubes, 42 bridges, and ~100 km of new tracks), the Schnellfahrstrecke Wendlingen-Ulm high-speed line (operational since December 2022), Digitaler Knoten Stuttgart (Germany's pilot for ETCS Level 2, DSTW, ATO GoA 2, and CTMS), the Pfaffensteigtunnel (~11 km twin-tube tunnel connecting the airport to the Gäubahn line), the Bonatzbau modernization, the Große Wendlinger Kurve, and the P-Option capacity expansion.

The company's business model is structured as public infrastructure delivery rather than commercial product sales. Revenue derives from a multi-party financing framework anchored by the April 2, 2009 financing agreement, with the project cost framework rising from €4.526 billion at signing to €11.453 billion as of December 2023 and projected to reach €14.5 billion by 2033. Technology core includes Feste Fahrbahn (solid trackbed) track systems, 125 km of digitally equipped track under the Digitaler Knoten, and the Partnerschaftsmodell Schiene alliance contracting model first applied to the Pfaffensteigtunnel. End users of the delivered infrastructure are German rail passengers (over 10 million long-distance travelers expected to benefit annually), with target outcomes including travel time reductions such as Ulm-Stuttgart Airport from 58 to 28 minutes and Stuttgart Hauptbahnhof-Airport from 27 to 6 minutes.

PSU's go-to-market is direct delivery to public-sector partners under statutory authorization (Bundesschienenwegeausbaugesetz), with citizen engagement conducted through InfoTurmStuttgart exhibition center, open construction site events (500,000+ visitors since 2016), the Bahnprojekt Stuttgart-Ulm e.V. association, and digital channels including webcams and YouTube. Following the June 2026 internal revision and new phased commissioning plan, PSU is being repositioned as an Inbetriebnahmeorganisation (commissioning organization) under new Chairman Klaus Müller, with phased project delivery scheduled from December 2027 (Bonatzbau access) through December 2033 (Pfaffensteigtunnel completion).

Name

DB Projekt Stuttgart-Ulm GmbH

Legal name

DB Projekt Stuttgart-Ulm GmbH

Website

https://bahnprojekt-stuttgart-ulm.de

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

DB Projekt Stuttgart-Ulm GmbH is a Deutsche Bahn AG subsidiary managing the Stuttgart-Ulm rail megaproject on behalf of federal, state, municipal, and regional public-sector partners, delivering Stuttgart 21, the Wendlingen-Ulm high-speed line, and rail digitalization pilot projects.

Ownership category

akta.pro rank

Product category

Rail Infrastructure Project Delivery

NAICS

Support Activities for Rail Transportation (488210)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Transmission line EPC & construction (overhead) (EUADAKAA)

akta.pro secondary industry

Building Automation & Controls (BAS/BMS) Contracting (IMAFALAE)

Keywords

• Rail infrastructure construction
• Railway digitalization
• High-speed rail
• Public transit infrastructure
• Rail network modernization

Headquarters

HQ city

Stuttgart

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D

Revenue model

1. Public Infrastructure Funding: The company manages government-funded rail infrastructure projects. Funding comes from Deutsche Bahn AG, the German federal government (including EU funding), state of Baden-Württemberg, City of Stuttgart, Flughafen Stuttgart GmbH, and Verband Region Stuttgart according to the financing agreement of April 2, 2009. The financing framework as of December 2023 stands at 11.453 billion euros with additional costs of approximately 3 billion euros bringing total projected costs to 14.5 billion euros.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels10 records

Core offering

DB Projekt Stuttgart-Ulm GmbH is a project company of Deutsche Bahn AG that plans, finances, and delivers the Stuttgart–Ulm rail infrastructure program. Its portfolio spans the Stuttgart 21 rail hub reorganization, the Wendlingen–Ulm high-speed line, the Digitaler Knoten Stuttgart digital-railway pilot, the Pfaffensteigtunnel, the Bonatzbau heritage station refurbishment, and the Große Wendlinger Kurve connecting line.

Product overview

DB Projekt Stuttgart-Ulm GmbH manages the Stuttgart-Ulm rail project as a portfolio of major railway infrastructure projects. The company operates a multi-project infrastructure portfolio rather than a single unified product, consisting of: (1) Stuttgart 21 - the core project reorganizing the Stuttgart rail node from a terminal to through station; (2) Schnellfahrstrecke Wendlingen-Ulm - a high-speed line operational since December 2022; (3) Digitaler Knoten Stuttgart - a pilot project for railway digitalization with digital signal boxes, ETCS Level 2, and automated train operation; (4) Pfaffensteigtunnel - an 11-km tunnel connecting the airport to the Gäubahn line; (5) Bonatzbau - historic building modernization; (6) Große Wendlinger Kurve - railway curve enabling connections from Reutlingen/Tübingen; and (7) P-Option - expansion option for additional tracks. These projects collectively aim to increase rail capacity, reduce travel times, and modernize railway infrastructure in southwest Germany as part of the Deutschlandtakt (integrated regular-interval timetable).

Differentiator

Problem solved

Functional benefit

Products and services

• Stuttgart 21

Quantifiable outcome

• Ulm–Stuttgart Airport travel time reduced from 58 to 28 minutes
• +8 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Eisenbahn-Bundesamt (EBA)coreStrategic or Co-development Partner · 18 December 2024Federal Railway Authority that granted construction permit (Planfeststellungsbeschluss) for Pfaffensteigtunnel PFA 1 on December 22, 2025. Supervisory authority for the project.
• Partnerschaftsmodell Schiene Alliance PartnerscoreStrategic or Co-development Partner · 6 November 2023Alliance partnership model for Pfaffensteigtunnel construction. Partners: Geoconsult, FCP, IC-Consulenten, Züblin, Wayss & Freytag, Strabag, Rhomberg, Swietelsky, Spitzke, and Hörmann. First railway infrastructure project using multi-party contract approach across all project phases.
• German Federal GovernmentcoreStrategic or Co-development Partner · 2 April 2009Primary financing partner through the financing agreement of April 2, 2009. Provides federal funding including EU grant funds. The Bund (Federal Government) signed the financing agreement represented by Transport Minister Wolfgang Tiefensee.
• State of Baden-WürttembergcoreStrategic or Co-development Partner · 2 April 2009State government co-financing partner. Represented by Minister-President Günther H. Oettinger in the 2009 financing agreement. Provides ongoing financing contributions and political support.
• City of StuttgartcoreStrategic or Co-development Partner · 2 April 2009Municipal co-financing partner. Purchased freed rail land (approximately 85 hectares) from Deutsche Bahn in 2001 for urban development. Also a founding member of the Bahnprojekt Stuttgart-Ulm e.V. association.
• Verband Region StuttgartcoreStrategic or Co-development Partner · 2 April 2009Regional authority representing the Stuttgart metropolitan area. Co-financing partner in the 2009 agreement. Also funding partner for Digitaler Knoten Stuttgart in coordination with the state.
• Flughafen Stuttgart GmbHcoreStrategic or Co-development Partner · 2 April 2009Airport operator financing partner. Beneficiary of airport rail connection. Also a supporting member of Bahnprojekt Stuttgart-Ulm e.V.
• Bahnprojekt Stuttgart-Ulm e.V.minorStrategic or Co-development Partner · 1 January 2009Association founded in 2009 by project partners to inform the public about the rail project. Voting members: Deutsche Bahn AG, DB InfraGO AG, State of Baden-Württemberg, City of Stuttgart, Verband Region Stuttgart. Supporting members: Flughafen Stuttgart GmbH, City of Ulm, Landesmesse Stuttgart GmbH.
• Deutsche Bahn AGcoreStrategic or Co-development PartnerParent company and primary project executor. PSU is a wholly-owned subsidiary of Deutsche Bahn AG. Infrastructure CEO Stefan Garber signed the 2009 financing agreement. Reports to DB CEO Evelyn Palla.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• California High-Speed Rail Authority: California state agency responsible for planning and delivering the California High-Speed Rail system. Comparable as a publicly-mandated, multi-stakeholder-financed high-speed rail mega-project entity with significant cost overruns, schedule delays, and political controversy.
• Network Rail: UK's public-owned rail infrastructure manager responsible for operating, maintaining, and renewing the national rail network. Directly comparable as a publicly-mandated rail infrastructure delivery organization managing large capital programs with multi-stakeholder government funding.
• Adif: Spain's state-owned railway infrastructure administrator, managing the construction and maintenance of the Spanish rail network including high-speed AVE lines. Comparable as a public-sector rail infrastructure delivery entity with large-scale project execution capabilities.
• High Speed 2 (HS2) Ltd: UK government-owned company responsible for developing and delivering the High Speed 2 railway project. Directly comparable as a state-mandated special-purpose vehicle delivering a major high-speed rail mega-project with significant cost overruns, public scrutiny, and complex stakeholder dynamics.
• SNCF Réseau: French public rail infrastructure manager, a subsidiary of SNCF Group, responsible for managing and developing France's rail network including major LGV projects. Directly comparable in mandate, public ownership structure, and large-scale rail infrastructure project delivery.

Regional players

• Trenitalia: Italy's primary rail operator, part of the Ferrovie dello Stato group. Comparable as a state-owned European rail entity serving as both operator and infrastructure consumer, with overlapping interest in high-speed rail network expansion.
• Renfe: Spain's national state-owned railway company. Comparable as a public-sector rail operator and infrastructure user in the European high-speed rail ecosystem, with ongoing investments in digital signaling and station modernization.

Broad incumbents

• ÖBB-Infrastruktur: Austrian Federal Railways' infrastructure division responsible for planning, building, and operating Austria's rail network. Comparable as a public-sector rail infrastructure operator executing major cross-border projects with German neighbors.
• Deutsche Bahn AG: Parent company and primary related entity. PSU is a wholly-owned subsidiary of Deutsche Bahn AG, reporting to DB's CEO and operating within the DB Group's infrastructure division, sharing operational, financial, and political DNA with the parent.
• SBB Infrastruktur: Swiss Federal Railways' infrastructure division. Comparable as a public-sector rail infrastructure operator with strong engineering capabilities, government ownership, and focus on punctuality, digitalization, and integrated cross-border rail services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/BahnprojektStuttgart-Ulm
• LinkedInlinkedin.com/company/db-projekt-stuttgart-ulm-gmbh

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DB Projekt Stuttgart-Ulm GmbH