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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

Related Content

  • July 30, 2013
    Financing agreed for Q-Free Jakarta contract
    Q-Free has confirmed that a loan agreement has been signed between Export Credit Norway and PT Rin Indonesia Jaya, a subsidiary of PT Inovisi Infracom Tbk, for part financing of the contract signed in 2011 for an electronic law enforcement (ELE) project. As part of the financing agreement, PT Inovisi Infracom Tbk has signed a parent company guarantee for the loan. The loan will be released upon initial payment of US$6 million to Q-Free, which will also mark the start-up of the project. The loan from Expor
    Read More
  • August 12, 2024
    CitySwift puts the Spotlight on Manchester
    Bee Network aims to grow bus use by around to 30% by 2030 from 2022-23 levels
    Read More
  • March 30, 2015
    Funding for two new London EV refuelling stations
    ITM Power, the energy storage and clean fuel company, has been awarded a total of US$4.3 million by the Hydrogen Refuelling Stations (HRS) Infrastructure Grants Scheme, run by the Office of Low Emission Vehicles (OLEV). The award is to build two new HRS in London, sited with strategic partners and for the upgrading of four existing ITM Power refuelling stations. ITM Power and its partners are to invest in two new HRS in London at strategic locations suitable for Fuel Cell Electric Vehicle (FCEV) roll-out. B
    Read More
  • October 25, 2024
    Arriva wins Netherlands contract in Gelderland
    Bus deal starts in December 2025 and could run until 2042 if extension applied
    Read More

Highlighted Content