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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • Gulf Traffic signs partnership with Saudi Transport Ministry
    October 10, 2018
    The Gulf Traffic exhibition and conference has signed its first strategic partnership with the Saudi Transport Ministry (TM). Saudi Arabia has recently announced a $453 million infrastructure project to extend 23 roads across the country. “As we progress with our plan for the private sector to operate much of the kingdom's future transport infrastructure, being part of international platforms, such as Gulf Traffic in Dubai, will give us access to the transport suppliers needed to drive this strategy,” s
    Read More
  • World Bank funding to accelerate highway development in India
    November 1, 2013
    The World Bank has approved a US$500 million loan for the National Highways Interconnectivity Improvement Project in India to improve the national highway network’s connectivity with economically deprived and remote areas. The project will focus on three low-income states, Rajasthan, Bihar and Orissa, and on less developed regions in Karnataka and West Bengal.
    Read More
  • Siemens to equip new metro line in Sofia
    March 30, 2016
    Metropolitan EAD, the metro operator in Sofia, Bulgaria, has commissioned a consortium of Siemens and the Polish train manufacturer Newag to equip the new metro line 3 in the city, which will create an 18 kilometre east-west link that will serve 18 stations. The order, valued at around US$158 million (EUR140 million), comprises the delivery of 20 Inspiro type metro trains and the Trainguard MT automatic train protection system, using wireless CBTC technology (communications-based train control) to provid
    Read More
  • Mobility itself is moving says cubic
    June 9, 2015
    Cubic’s Chris Bax looks at the challenges and benefits of implementing transport as a service. Imagine paying for travel in exactly the same way you buy your phone service. For example, you would pay a set amount in exchange for a monthly travel package covering up to 100km of free taxi journeys in your home city (including a guaranteed 15 minute pickup) and public transport usage within a 1,500km radius of your home. Not only would this option be cheaper than owning and maintaining your own car, you would
    Read More

Highlighted Content