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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • Keeping people on track is RATP’s raison d’etre
    June 14, 2018
    In Paris, RATP Group’s autonomous Metro Line 1 is carrying 750,000 people a day across the city. Ben Spencer is invited into the control room to take a look at how the system works Paris is visited by millions of tourists each year, keen to see for themselves stunning attractions such as the Eiffel Tower, Arc de Triomphe, Notre-Dame, the Louvre, the Seine and all the rest. But while the best-known sites of the City of Light tend to be on the surface, there is a lot going on below those iconic grand boule
    Read More
  • MBTA chooses Cubic to deliver next-generation fare payment system
    November 22, 2017
    Cubic Transportation Systems (CTS) has been selected by the Massachusetts Bay Transportation Authority (MBTA) to install a fare payment system for the region’s multi-modal transit system to allow payment flexibility for customers. The base contract award includes an approximate $575 million (£433 million) for implementation with ten years of operations and maintenance as well two five-year extension options. The agreement also involves a public-private partnership, in which Cubic and John Laing will
    Read More
  • Rating agency Standard and Poor Tolling sees a bright future for tolling
    September 6, 2017
    Few disruptions appear on the horizon for global toll road operators, with the US poised to become a better bet for major investment, according to ratings agency Standard and Poor’s (S&P’s) Global Ratings’ 2017 report, which rates toll road operators according to their ability to raise capital. The outlook is generally stable for business conditions and credit quality for toll roads worldwide. One positive exception is the US where the overall outlook is ‘positive’ as S&P expects traffic growth to increase
    Read More
  • System predicts train delays and informs response
    February 25, 2016
    David Crawford looks into the near-term future for Stockholm’s rail commuters. Swedish rail operator Stockholmståg, which runs commuter services in and around the country’s capital, is claiming a world first with the introduction of its automated Pendelprognosen (commuter prognosis) service. Developed to enable the prediction of delays as much as two hours before they are likely to occur, this offers the operator the scope for much earlier remedial action than previously - for example by filling in the expe
    Read More

Highlighted Content