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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • USDOT to fund transit improvements across the country
    September 17, 2015
    The US Department of Transportation’s Federal Transit Administration (FTA) today announced that 21 organisations around the country will receive a share of US$19.5 million in grants to support comprehensive planning projects that improve access to public transit. The funds are made available through FTA’s Transit-Oriented Development (TOD) Planning Pilot Program for communities that are developing new or improved mass transit systems.
    Read More
  • Study in Finland shows infrastructure is a good investment
    March 28, 2012
    VTT Technical Research Centre of Finland, the University of Oulu and Aalto University in Finland have analysed the financial statements for 2002-2009 of companies, public utilities, and municipal units that own infrastructure, including water services, as well as road, port, airport, railway and electricity networks. Owning infrastructure is relatively risk-free. The most profitable is the energy sector where the return on investment was about 13%. The average annual return on investment of ports was 10%. T
    Read More
  • ‘Need for sustainable transportation infrastructure drives the ITS market’
    October 30, 2012
    According to a new report by Global Industry Analysts (GIA), the global Intelligent Transportation Systems market is projected to reach US$22.7 billion by the year 2018, driven primarily by the need to enhance road safety by efficiently managing traffic, enforcing speed limits and easing traffic congestion. Rising demand from developing nations to incorporate ITS solutions also bodes well for the future of the market. The report provides a comprehensive review of trends, product developments, mergers, acqu
    Read More
  • Ford Mobility: analytics aids transport proactivity
    April 2, 2020
    Ford Mobility has demonstrated how data analytics can help implement London's transport strategy in areas such as traffic re-timing and in eliminating all road fatalities (Vision Zero) by 2041.
    Read More

Highlighted Content