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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • European Truck Platooning Challenge winds up at Intertraffic
    March 2, 2016
    As holder of the EU Presidency in 2016, the Netherlands has organised the 2016 European Truck Platooning Challenge and it is no coincidence that it will involve Intertraffic Amsterdam. Truck platooning, where two or more trucks travel in convoy very close to each other, provides many benefits. The first truck does the driving while the ones following are connected by a wireless electronic communications system, like the carriages of a train.
    Read More
  • US business leaders discuss concerns over transportation funding
    July 11, 2014
    US business leaders briefed Vice President Joe Biden and US Transportation Secretary Anthony Foxx yesterday on business issues associated with transportation infrastructure during a meeting hosted by the White House Business Council and Business Forward. Meeting participants included executives from large manufacturers, shipping companies, trade associations, and a range of other businesses, including Doug Oberhelman, chairman and CEO, Caterpillar, and Matt Rose, executive chairman, Burlington Northern S
    Read More
  • New FIA Region I policy position on road infrastructure and tunnel safety
    February 17, 2017
    FIA Region I has welcomed the European Commission’s plan to revise and merge the road infrastructure safety management directive and the directive on minimum safety requirements for tunnels since many of the problems that road users face today are linked with poor maintenance of road infrastructure. FIA Region I believes that road management authorities should be obliged by the EU and member states to ensure a minimum level of road maintenance. A well-developed and maintained road network enables safe, e
    Read More
  • MaaS Market Conferences on both sides of the Atlantic in 2018
    December 20, 2017
    Momentum shift in prospect as authorities accelerate plans to rethink transport provision. TS International’s second, two-day international MaaS Market conference takes place on 20 and 21 February 2018. The Mobility as a Service (MaaS) event is ideal for all organisations exploring new ways of getting people to their destination and new methods for them to pay for transport services.
    Read More

Highlighted Content