EIB agrees funding for new East Anglia trains

The European Investment Bank (EIB) has agreed to provide US$76 million (£60 million) for the purchase of new trains that will improve passenger services in East Anglia on key London, intercity, airport and local services in the UK. The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes. The EIB loan is guaranteed by the European Fund for Strategic Investments (EFSI) under the Investment Plan for Europe, and
October 6, 2016 Read time: 2 mins

The 4270 European Investment Bank (EIB) has agreed to provide US$76 million (£60 million) for the purchase of new trains that will improve passenger services in East Anglia on key London, intercity, airport and local services in the UK.

The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes. The EIB loan is guaranteed by the European Fund for Strategic Investments (EFSI) under the Investment Plan for Europe, and this is the first EFSI transport loan in the United Kingdom.

The 28 year European Investment Bank loan will finance purchase of new rolling stock by Rock Rail East Anglia PLC for use by Abellio East Anglia Limited, a wholly owned subsidiary of Dutch national rail company Nederlandse Spoorwegen.

Funding of these new trains was led by Rock Rail and SL Capital with additional co-investment equity being provided by GLIL, the Greater Manchester Pension Fund and London Pensions Fund Authority infrastructure investment joint venture.

Related Content

  • July 10, 2015
    EIB supports purchase of modern trams for Krakow and Silesia
    The European Investment Bank (EIB) has provided two loans totalling over US$85 million for the purchase of modern energy-efficient low-floor trams for Krakow and Upper Silesia Agglomeration in Poland. The EIB will also finance the modernisation of the existing tram stock and infrastructure in Silesia.
    Read More
  • June 4, 2013
    Further EIB support for Lithuanian Railways
    Lithuanian Railways are set to benefit from new rolling stock following a US$65.3 million loan agreement with the European Investment Bank (EIB). After the support for the upgrading of railway infrastructure and purchase of new locomotives, this is now the third EIB operation aimed at modernising Lithuanian railways. “The EIB strongly promotes sustainable transport, and railways will remain one of the most energy-efficient and least polluting land transport modes. We therefore particularly welcome this agre
    Read More
  • September 15, 2015
    EIB backing for London transport
    The European Investment Bank (EIB) has agreed to provide US$1.5 billion for investment in the London transport network. The 35 year loan from Europe’s long-term lending institution will support major projects, including significant upgrades by Transport for London (TfL) at Victoria and Bank Tube stations, which will transform passenger access at two of the busiest stations in the capital. The new support was announced by Jonathan Taylor, vice president of the European Investment Bank and Steve Allen, ma
    Read More
  • July 29, 2014
    EIB funds modernisation of Dusseldorf’s public transport
    The European Investment Bank (EIB) has granted Rheinbahn, the public transport authority in the Düsseldorf region of Germany a multi-million euro loan to become more efficient and environmentally friendly. Rheinbahn operates in an area of over 520 square kilometres, with more than a million people living within the Greater Düsseldorf area. The US$201.6 million loan will fund a four-year investment programme, including the purchase of 40 new trams and 87 new buses, measures to improve accessibility an
    Read More

Highlighted Content