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

  • August 6, 2014
    Report urges US$25 billion transport improvement plan
    The One North report, produced by the city regions of Leeds, Liverpool, Manchester, Newcastle and Sheffield in the UK, puts forward a strategic proposition for transport in the north of the country. The US$16.8-US$25.2 billion plan urges major changes in connectivity and capacity between the northern cities over the next 15 years and proposes optimisation of strategic highway capacity, a new high speed trans-Pennine rail route and improved city region rail networks interconnected with HS2 services, new inte
    Read More
  • February 2, 2012
    Carbon finance delivers critical support to mass transit schemes
    David Crawford investigates carbon finance in transport. World Bank carbon finance grants are delivering critical support to major mass transit deployments in emerging and developing economies. Only recently operative in the transport sector, the Clean Development Mechanism (CDM, see panel) is designed to generate additional income streams and improve internal rates of return on projects funded from public- and private-sector sources.
    Read More
  • February 6, 2020
    US braces itself for congestion pain
    Mary Scott Nabers, author of Inside the Infrastructure Revolution: A Roadmap for Building America, looks at how different US states are embracing the need for public transport investment
    Read More
  • November 25, 2015
    UK's first tram train en route to Sheffield
    THE UK’S first tram train vehicle has started its journey to Sheffield from Spain. The fully-constructed, 37m long tram train will make a two week voyage over land and sea from Valencia before arriving in South Yorkshire on 1 December. Passengers in the county will be the first in the UK to benefit from the innovative new tram train, a tram-type vehicle that has the signalling, power supply, control and communication technology to run on both street tram lines and the rail network.
    Read More

Highlighted Content