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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • Lothian Buses upgrades to smart ticketing
    March 17, 2017
    Joint venture company Nevis Technologies is to supply its smart ticketing solutions to UK bus company Lothian Buses, providing a platform of interoperable ticketing products that can be integrated with Lothian Buses’ existing infrastructure. This allows Lothian Buses to offer smart card ticketing which could also be used across other modes of transport, including rail, subway and ferry. Nevis Technologies is a joint venture company between smart transportation technology provider Rambus and Strathclyde
    Read More
  • Thailand to spend over US$19 billion for six more MRT rail lines
    August 24, 2012
    The Mass Rapid Transit Authority (MRTA) of Thailand is to make immediate plans to develop six additional mass rapid transit (MRT) rail lines that should be operational by 2020. The lines will measure a length of 200 kilometres and entail US$19.16 billion in combined investments. The move was spurred by a forecast that suggests some three million passengers a day will use the MRT rail system in Bangkok by 2020.
    Read More
  • "AI can help fast-track Net Zero and Vision Zero," says VivaCity
    January 16, 2024
    Artificial intelligence isn't just about self-driving cars - and ‘smart’ doesn't always have to be shiny, new and innovative. Mark Nicholson, CEO at VivaCity, offers a few predictions for 2024...
    Read More
  • Airborne traffic monitoring - the future?
    March 1, 2013
    A new frontier in the quest to monitor road traffic is opening up… but using airborne drones to reduce the jams comes with some thorny issues. Chris Tindall reports. Imagine if you could rely on a system that provided all the data you needed to regulate traffic flow, route vehicles and respond swiftly to emergencies for a fraction of the cost of piloting a helicopter. That system exists, but as engineers and traffic managers start to explore the potential of unmanned aerial vehicles (UAVs) – more commonly k
    Read More

Highlighted Content