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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • London’s mayor launches bus safety programme
    February 2, 2016
    The Mayor of London and Transport for London (TfL) have launched a world-leading programme to drive major improvements in safety across London's bus network, creating a six-point programme to reduce collisions and improve safety. The programme will bring together the newest technology, training, incentives, support, reporting and transparency right across the network, contributing to TfL's work towards meeting the mayor's target of halving the number of people killed or seriously injured on the capital's
    Read More
  • ITS Australia Awards: finalists revealed
    November 29, 2022
    Cisco, Moovit and Q-Free are among the companies up for 13th ITS Australia Annual Awards
    Read More
  • Peru prequalifies three consortiums for Lima metro line 2
    February 7, 2014
    Peru's private investment promotion agency ProInversión has prequalified three consortiums for the US$5.70 billion construction, operation and maintenance of line 2 of Lima's metro. Technical and economic offers are still due by 21 February, with ProInversión aiming to award the tender for the 35-year concession on 28 February. The consortiums are: Consorcio Nuevo Metro de Lima, comprised of Spain's ACS and FCC, Italian companies Impregilo and AnsaldoBreda and Peru's Cosapi; Consorcio Metro Subterráneo
    Read More
  • UK to lead the way in testing driverless cars
    July 20, 2015
    The UK government has launched a US$30 million competitive fund for collaborative research and development into driverless vehicles, along with a code of practice for testing. The measures, announced by Business Secretary Sajid Javid and Transport Minister Andrew Jones, will put the UK at the forefront of the intelligent mobility market, expected to be worth US£1.4 trillion by 2025. The government wants bidders to put forward proposals in areas such as safety, reliability, how vehicles can communicat
    Read More

Highlighted Content