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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • IBTTA commends new report on infrastructure planning
    October 3, 2014
    The International Bridge, Tunnel and Turnpike Association (IBTTA) has responded to the joint report by the Eno Center for Transportation and the American Society of Civil Engineers (ASCE), which highlights the benefits of life cycle cost analysis in planning transportation infrastructure projects. Executive director and CEO Pa trick D. Jones said: “We commend ENO and ASCE for issuing an important report, Maximizing the Value of Investments Using Life Cycle Cost Analysis. This report is especially timely
    Read More
  • North Yorkshire to benefit from major transport funding
    July 17, 2014
    Building the A684 bypass in North Yorkshire can start after the UK Department for Transport agreed to fund over US$50 million towards the full scheme cost of US$58.5 million. The bypass will remove traffic from villages and improve journey times on a vital east-west tourist route to the Yorkshire Dales. The scheme consists of a new 4.8 kilometre single carriageway road from the A684 north of Bedale to the A684 east of Leeming Bar, which links into junction 51 of the A1(M). Transport Minister Baroness
    Read More
  • £150m boost for UK local bus services
    October 23, 2023
    Money is part of reallocation of £36bn due to be spend on now-abandoned HS2
    Read More
  • More Chile scheduling for Optibus
    May 19, 2025
    Metropol Group works within Santiago's Metropolitana de Movilidad
    Read More

Highlighted Content