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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • A new beginning for travel information, based on users' needs
    February 3, 2012
    Despite its name, the EU's forthcoming SUNSET project could represent a new beginning for travel information services. Here, Susan Grant-Muller and Frances Hodgson from the Institute for Transport Studies at the University of Leeds detail a project which is intended to exert a greater influence on network users' travel habits
    Read More
  • Tolling: it’s time to open up
    May 24, 2023
    Europe sees more and more tolling schemes being implemented based on GNSS technology and an ‘open marketplace’ model. What are the drivers behind this trend and do those schemes show how toll systems will look in the future? Peter Ummenhofer of Go Consulting goes out on the road
    Read More
  • IRF Geneva leads UN road safety meeting
    October 5, 2022
    The International Road Federation (IRF) in Geneva convened key industry leaders to discuss “Action for Road Safety: Private Sector Leadership” on the occasion of the UN High Level Meeting on Global Road Safety hosted in New York
    Read More
  • FRA makes funding available for positive train control implementation
    April 5, 2016
    The US Department of Transportation’s Federal Railroad Administration (FRA) is accepting applications for US$25 million in competitive grant funding available to railroads, suppliers, and state and local governments for positive train control (PTC) implementation. The funding is part of the 2016 Consolidated Appropriations Act that funds the US Department of Transportation. Applications will be accepted until 19 May 2016 and FRA will give preference to projects that would provide the greatest level of p
    Read More

Highlighted Content