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.”

For more information on companies in this article

Related Content

  • Trials of new technologies to counter age-old work zone challenges
    May 19, 2017
    New solutions are being used to improve the management and safety of work zones on roads both big and small, as Jon Masters discovers. The UK government has recently been going to some lengths to paint a picture of a nation embracing a future of digital technology – understandably given the economic concerns arising from exiting the European Union. In December last year, however, the UK National Infrastructure Commission (NIC) put down a somewhat different marker for where the UK is now in terms of mobile c
    Read More
  • Auckland Council agrees on interim levy to fix transport
    May 8, 2015
    Auckland, New Zealand, Council’s Budget Committee has agreed to introduce an interim transport levy so that work can begin on fixing the city’s transport problems. The interim levy is in response to the majority of Aucklanders opting to pay more for the Auckland Transport Network Plan during public consultation and in an independent survey earlier this year. To fill the US$9 billion funding gap for the full Auckland Plan network, Auckland also opted for a motorway user charge.
    Read More
  • Work to begin on M1 improvements
    December 11, 2013
    Work on the M1 Junction 19 improvement scheme near Catthorpe, Leicestershire, will start in January, UK roads minster Robert Goodwill has announced today. The US$312.7 million scheme will reduce congestion and improve journey time reliability and safety by replacing the existing junction with a three-level junction and improving roads between the villages of Catthorpe and Swinford so local traffic can avoid the junction.
    Read More
  • New York to pump $51.5bn into transit
    September 25, 2019
    New York’s Metropolitan Transportation Authority (MTA) has proposed investing $51.5 billion in the city’s subways, buses and railroads over the next five years. Janno Lieber, MTA chief development officer, says: “The proposed capital programme will be truly transformational – more trains, more buses, more service, more accessibility and more reliability.” The 2020-2024 Capital Plan would put $40bn into the city’s subways and buses and $6.1bn for 1,900 new subway cars to help mitigate delays. MTA also wa
    Read More

Highlighted Content