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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • Slow development of Europe's road user charging
    April 24, 2013
    Delegates convened in Brussels for Europe’s 10th annual Road User Charging Conference in March, when both positive and negative developments came to light for advocates of more widespread introduction of RUC. Jon Masters reports. Goings on across Europe in recent months have again demonstrated how very sensitive road user charging (RUC) is politically. At the 10th annual Road User Charging Conference in Brussels at the beginning of March, a Danish delegation was notable for its absence, but Belgian governme
    Read More
  • Peter Bentley wins Max Lay Award
    October 27, 2021
    Prestigious ITS Australia gong for achievement will be presented to ITS veteran next February
    Read More
  • Wavetronix radar-based traffic sensor cuts costs
    May 30, 2013
    While initial cost of radar based detection may be higher than that traditional loops, lower maintenance costs more than balance the books. Following successful field tests, the US city of Greenville, North Carolina, has recently agreed a new policy of phasing in Wavetronix traffic sensor technology’s radar-based SmartSensor Matrix system across its signalised traffic intersections. City traffic engineer Rik DiCesare expects the incremental implementation to deliver benefits to both the city’s taxpayers an
    Read More
  • Inrix: micromobility could replace half of US metro car trips
    September 16, 2019
    Nearly 50% of all car trips in the most congested US metropolitan areas are less than three miles and could be replaced by micromobility services, says Inrix. The company analysed data points from connected devices to rank the top US, UK and German cities where micromobility services (shared bikes, electric bikes and electric scooters) could have the most significant impact on replacing vehicle trips. Findings from the National Association of City Transportation Officials estimated that scooters are
    Read More

Highlighted Content