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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • EBRD invests in Turkey’s first trans-shipment hub
    December 18, 2013
    The European Bank for Reconstruction and Development (EBRD) is providing a US$92 million loan for Turkey’s first trans-shipment container terminal AsyaPort, as the country continues to improve its infrastructure to create the conditions for sustaining its strong economic growth. The Bank’s financing will be used to design, build, operate and maintain a new container terminal in the town of Barbaros, Tekirdag province, some 130 kilometres west of Istanbul. The International Finance Corporation (IFC) and T
    Read More
  • Kapsch TrafficCom to acquire Mark IV IVHS
    March 1, 2012
    Kapsch TrafficCom AG has agreed to acquire, through subsidiaries, the businesses of Mark IV IVHS, part of Mark IV, LLC (US), in the United States, in Canada and in Mexico
    Read More
  • Canadian JV to build next phase of Ontario BRT
    September 30, 2015
    Metrolinx and York Region Rapid Transit Corporation (YRRTC) today announced the award of a US$248 million contract to the EDCO joint venture to design, build and finance the next phase of the dedicated York Viva Bus Rapid Transit rapidways along the Highway 7 transit corridor Southern Ontario, Canada. This initiative is part of the York Viva BRT project which represents a US$1 billion transit investment from the Government of Ontario and is part of Metrolinx's 25-year Regional Transportation Plan for an
    Read More
  • Global cities transform space for post-Covid transport
    May 7, 2020
    Glimpses are beginning to emerge of how European and US cities plan to change the way people travel.
    Read More

Highlighted Content