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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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.

For more information on companies in this article

Related Content

  • New Mexico City airport 'the most advanced worldwide'
    February 13, 2015
    The new international airport being built in Mexico City is "probably the most advanced modern airport project worldwide," Dr Bernardo Lisker, international director of The Mitre Corporation, has said. "This is an enormously important project for Mexico, without which the nation's economy would suffer a bottleneck very soon," said Lisker, who will be discussing the technical vision of the airport at BNamericas' Mexico Infrastructure Summit taking place 18–19 February. "Building the new airport in the
    Read More
  • Why the US said ‘yes’ to public transportation on 8 November
    March 29, 2017
    Historic funding boost reflects America’s awareness of transit’s contribution to economic growth and quality of life. Something unexpected happened on Election Day 2016, a result nobody expected; public transportation was a clear winner. There were 49 transit-related funding initiatives on ballots across the nation, of which about 70% were passed.
    Read More
  • Thales signs deals with China, Korea, Turkey
    June 15, 2020
    French firm closes three signal control contracts for urban rail systems
    Read More
  • Asecap: get ready to rethink everything you know
    November 15, 2022
    How can we make our infrastructure ready for new sustainability challenges? What kind of investments are needed? And who will finance them? Tolling association Asecap has some thoughts. Geoff Hadwick reports from Lisbon
    Read More

Highlighted Content