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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • New York begins East Bronx e-scooter pilot
    April 20, 2021
    Bird, Lime and Veo say they will engage with disability community on accessibility
    Read More
  • Is Europe's Galileo project value for money?
    February 2, 2012
    Philippe Hamet discusses the progress of the European Union's Galileo Global Navigation Satellite System Project
    Read More
  • Cubic (ITMS) wins key London traffic signals maintenance contract
    August 1, 2014
    Transport for London (TfL) has awarded Cubic (ITMS), a subsidiary of Cubic Transportation Systems, a six-year contract worth some US$85 million to maintain and expand the use of intelligent traffic signals, as well as new crossings for pedestrians and cyclists, at strategic points across the city. The contract includes a provision for a further two-year extension. The Traffic Control Management Services 2 (TCMS2) contract covers the whole of London. Cubic has been assigned responsibility for 1,000 traff
    Read More
  • Developing new detection and monitoring technologies
    November 21, 2012
    Established detection and monitoring technologies continue to evolve, but is it time to challenge their supremacy and take a serious look at less conventional ITS? Andy Graham considers the options with Jason Barnes. For ITS system providers, the most potentially lucrative markets over the next few years are going to be the BRIC (Brazil Russia India and China) group of countries, all of which are building many miles of new roads, applying tolling to existing ones (8,000km in China alone) and implementing w
    Read More

Highlighted Content