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.”

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