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 The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes.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

  • Future traffic management needs new thinking, new technology
    January 23, 2012
    One of the biggest problems facing US ITS professionals, says Georgia DOT's Hugh Colton, is the constrained thinking which is sometimes forced upon those making procurement decisions. It is time, he says, to look again at how we do things. In the November/December 2010 edition of this journal, Pete Goldin interviewed Joseph Sussman, chairman of the US's ITS Program Advisory Committee. Amongst other observations that Sussman made was that, technologically, ITS in the US is 10 years behind that in the world-l
    Read More
  • EBRD funds new transport master planning standards for Romania
    August 5, 2014
    In July 2014, the European Bank for Reconstruction and Development (EBRD) awarded funds of around US$1.8 million for the development of sustainable mobility master plans in Romania. The EBRD is the largest institutional investor in Romania. To date, the Bank has invested US$8.9 billion across 364 projects in diverse sectors including industry, commerce, agribusiness, infrastructure, energy and finance.
    Read More
  • UITP highlights mass transit changes
    October 25, 2022
    Increasingly, public transport passengers will no longer need to carry a dedicated smartcard ticket to travel, as technology enables virtually any type of contactless payment system to take over the role.
    Read More
  • PTV models City of York’s traffic
    May 13, 2020
    PTV to help optimise real-time traffic management in UK tourism hotspot
    Read More

Highlighted Content