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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • Funding approved for US Ohio River Bridges Project
    December 19, 2013
    US Transportation Secretary Anthony Foxx has announced a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan for US$452 million to finance the Downtown Crossing section of the Louisville and Southern Indiana Ohio River Bridges Project. The cost of the Downtown Crossing, which Kentucky is funding, is around US$1.3 billion, and represents one half of the bi-state Ohio River Bridges project, which also includes the new East End Bridge, also spanning the Ohio River eight miles to the north
    Read More
  • Ticketless travel for London’s commuters?
    April 4, 2013
    London's commuters will be able to use their mobile phones and bank cards for travel across the city, if Transport for London's (TfL) plans come to fruition. Thousands of London bus users already pay their fares using contactless bank cards instead of TfL Oyster cards, which have been widely used over the past decade. Users pay different charges for different London Underground zones and for train travel, so TfL has to decide on suitable payment mechanisms, and could drive the widespread adoption of systems
    Read More
  • C/AVs could mean cheaper roads
    October 28, 2019
    The safety benefits of C/AVs have long been promoted – but research suggests they should also contribute to cheaper roads. David Crawford investigates the potential benefits in infrastructure costs Building narrower freeway lanes to accommodate the enhanced route-tracking capabilities of connected and autonomous vehicles (C/AVs), running in platoon conditions, could result in cost savings of £0.5 million (€0.56 million or US$6.5 million) for every km of road length built. Such benefits could be secur
    Read More
  • Bombardier success in Germany and China
    December 21, 2015
    Bombardier Transportation is to supply an additional 47 Bombardier Flexity trams to Berlin’s transport operator Berliner Verkehrsbetriebe (BVG) as part of a framework agreement for a maximum of 206 vehicles signed in 2006. The Flexity Berlin concept was jointly developed by BVG and Bombardier Transportation, which they say has resulted in a 100 and barrier-free, leading edge tram providing easy access which is highly popular in Berlin and has already received several design awards.
    Read More

Highlighted Content