A co-owner of Avanti West Coast has emerged as another potential rival to Eurostar in running passenger trains between London and Paris.
FS Italiane Group said it plans to launch services through the Channel Tunnel by 2029.
It is proposing to use trains inspired by its Frecciarossa high-speed rolling stock.
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FS Italiane Group has committed to investing one billion euro (£857 million) to support its ambition of expanding its European network.
It has signed a memorandum of understanding with Spanish company Evolyn to potentially develop a partnership.
Evolyn previously announced it was bidding to launch services rivalling Eurostar, as was billionaire entrepreneur Sir Richard Branson’s Virgin Group and Gemini, chaired by Labour peer Lord Berkeley.
FS Italiane Group chief executive Stefano Antonio Donnarumma said: “High-speed rail networks are the backbone of efficient and environmentally friendly mobility, and by expanding our presence on key corridors, we are not just investing in infrastructure and innovation, but also in the future of European transport.
“More competition will help to create a more efficient and customer-oriented industry, offering a real alternative to air travel.”
Any new Channel Tunnel operator will need to obtain regulator approval.
FS Italiane Group said it is “studying further opportunities” for London to Paris services to call at Ashford, Kent.
Eurostar stopped calling at the station in March 2020 because of the coronavirus pandemic.
Regulator the Office of Rail and Road (ORR) said last month that some capacity at Eurostar’s Temple Mills maintenance depot in north-east London could be made available to other operators.
Access to a suitable depot for maintaining and storing trains has been cited by the industry as a critical requirement for operators to compete with Eurostar.
Eurostar holds a monopoly in running passenger services through the Channel Tunnel, which opened in 1994.
FS Italiane Group’s subsidiary Trenitalia owns 30% of Avanti West Coast, and runs c2c, which operates between the City of London and south Essex.
Earlier this moth, London St Pancras Highspeed – which owns the station in the capital and the high-speed tracks to the tunnel – announced it will offer reduced charges to operators running additional international services.
