EIB to fund new tram lines in Nottingham with $157 million loan

The European Investment Bank, the European Union’s long-term lending institution, has agreed to provide US$157 over 19 years to enable Nottingham City Council to expand the city’s light rail system with two new tram lines to the south and south west. The new lines will have services every seven minutes between 7am and 7pm and include 28 stops along 17.5kms of track. The project also includes 22 new low-floor trams for the line to link park and ride sites next to the M1 at Clifton and Toton Lane with the cit
March 27, 2012 Read time: 2 mins
The 4270 European Investment Bank, the 1816 European Union’s long-term lending institution, has agreed to provide US$157 over 19 years to enable 4423 Nottingham City Council to expand the city’s light rail system with two new tram lines to the south and south west. The new lines will have services every seven minutes between 7am and 7pm and include 28 stops along 17.5kms of track. The project also includes 22 new low-floor trams for the line to link park and ride sites next to the M1 at Clifton and Toton Lane with the city centre.

“Extension of the Nottingham tram network will transform public transport links across the city, reduce congestion and support economic growth and regeneration,” said Simon Brooks, EIB VP responsible for the UK. “The European Investment Bank recognises the contribution of sustainable transport to improve the lives of people in Nottingham and local economic opportunities over the coming years.”

Related Content

  • March 28, 2014
    Siemens systems for Nottingham trams, Dubai metro
    Construction work has started on Nottingham's expanding tram network to extend the service to the south and southwest of the city. The extension will more than double the size of Nottingham's tram network with 17.5 kilometres of new track and 28 new tram stops. As part of the project, Siemens will supply and install 33 new ST950 extra low voltage (ELV) junction controllers, eight signalised pedestrian crossings and 80 ELV tram signals. Junction controllers at a number of existing sites will also be upgra
    Read More
  • December 16, 2013
    Crossrail project receives US$814 million EIB funding
    The European Investment Bank (EIB), Europe’s long-term lending institution, has provided further funds to support the latest step in Crossrail’s development with a loan of up to US$814 million to Transport for London (TfL). The facility will be used for financing a fleet of new high-capacity air-conditioned trains as well as a new maintenance depot. Finance contracts were signed in London this week by Steve Allen, TfL’s Managing Director Finance and Jonathan Taylor, European Investment Bank Vice President.
    Read More
  • September 15, 2015
    EIB backing for London transport
    The European Investment Bank (EIB) has agreed to provide US$1.5 billion for investment in the London transport network. The 35 year loan from Europe’s long-term lending institution will support major projects, including significant upgrades by Transport for London (TfL) at Victoria and Bank Tube stations, which will transform passenger access at two of the busiest stations in the capital. The new support was announced by Jonathan Taylor, vice president of the European Investment Bank and Steve Allen, ma
    Read More
  • July 10, 2015
    EIB supports purchase of modern trams for Krakow and Silesia
    The European Investment Bank (EIB) has provided two loans totalling over US$85 million for the purchase of modern energy-efficient low-floor trams for Krakow and Upper Silesia Agglomeration in Poland. The EIB will also finance the modernisation of the existing tram stock and infrastructure in Silesia.
    Read More

Highlighted Content