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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • CBI/AECOM Survey: Three quarters of firms and public doubt improvement over this Parliament
    October 25, 2017
    74% of firms doubt infrastructure will improve over this Parliament and 76% the public doubt any improvement will occur, according to the CBI/AECOM Infrastructure survey 2017. The findings show that both business and the public are concerned about the pace of delivery and a record number of firms are dissatisfied with the state of infrastructure in the region. The report showed that 96% of the 727 businesses surveyed see infrastructure as important to the government’s agenda and 55% view it as critical.
    Read More
  • Plan to create UK’s biggest pay-as-you-go EV charging network
    June 22, 2012
    Elektromotive, a leading provider of electric vehicle (EV) charge points in Europe, is to create the UK’s largest pay-as-you-go, ‘open source’ network of public access charging stations for EVs, based upon the development of its proven pay-by-phone technology. The initiative comes as the result of a new joint venture with Charge your Car (North). The new company – Charge Your Car Limited – will expand the existing Charge your Car (North) network located predominantly across North east England, and incorpora
    Read More
  • Funding boost for London’s electric vehicle charging infrastructure
    August 4, 2017
    Transport for London (TfL), London Councils and the Greater London Authority (GLA) have announced funding of almost US$6 million (£4.5 million) to London boroughs to install electric vehicle charging infrastructure on London’s streets. A total of 25 boroughs, each receiving up to US$394,000 (£300,000), will install up to 1,500 standard-speed on-street charging points in residential areas, as part of Mayor of London Sadiq Khan’s long-term vision for zero-carbon transport in the Capital another step closer.
    Read More
  • Report on the impact of recession on infrastructure funding worldwide
    May 10, 2012
    A new report examines how aggressive government belt-tightening and financial market deleveraging restrained worldwide infrastructure investments for 2012 and probably for the next five years. In the US, for instance, Infrastructure2012: Spotlight on Leadership, released by the Urban Land Institute (ULI) and Ernst & Young, says that constrained public budgets and a growing recognition at the local level of the importance of infrastructure, combined with lack of action at the federal level, are causing state
    Read More

Highlighted Content