European Investment Bank backing for UK’s East Coast Main Line trains

Europe’s long-term lending institution, the European Investment Bank has, as part of a consortium of international banks, agreed to finance the deployment of 65 new Hitachi super express trains to be used on the East Coast Main Line between London and Scotland. This new fleet will replace the Intercity 125 and 225 trains currently in use on the line. The new East Coast Main Line trains will be financed under the Department for Transport’s Intercity Express Programme, which includes the financing, desig
April 17, 2014 Read time: 2 mins
Europe’s long-term lending institution, the 4270 European Investment Bank has, as part of a consortium of international banks, agreed to finance the deployment of 65 new 2213 Hitachi super express trains to be used on the East Coast Main Line between London and Scotland. This new fleet will replace the Intercity 125 and 225 trains currently in use on the line.
 
The new East Coast Main Line trains will be financed under the 1837 Department for Transport’s Intercity Express Programme, which includes the financing, design, manufacture and maintenance of trains over a 27.5 year operating period. The order for the East Coast Main Line is for 497 new train carriages and the total contract value is US$4.5 billion, which is the total value of lease payments train operators will make over the life of the contracts.
 
New trains on the line will include both bi-mode trains, electric trains that can also operate at line speed using diesel engines, and electric trains. The programme will also include the construction of a new maintenance deport in Doncaster.
 
The first new trains are expected to enter service in September 2018, with the remainder being delivered progressively until February, 2020. The trains will be manufactured in Britain by 7427 Hitachi Rail Europe at a new purpose-built factory in Newton Aycliffe, County Durham where 730 new jobs will be created.

The European Investment Bank is financing the new East Coast Main Line trains alongside Japan Bank for International Cooperation (JBIC), Bank of Tokyo 4962 Mitsubishi UFJ (BTMU), Development Bank of Japan (DBJ), HSBC, Lloyds, Mitsubishi Trust, Mizuho, Sumitomo Mitsui Banking Corporation (SMBC), Société Générale and Crédit Agricole.

Related Content

  • Enel X & Arrival aim for zero
    June 20, 2022
    Electric bus undergoes testing in Italy as public transport agencies face demand to go green
    Read More
  • Bombardier wins UK order for 130 Electrostar cars
    March 23, 2012
    Bombardier Transportation yesterday announced that it has secured an additional order, valued at US$296 million, for 130 Electrostar cars for Southern rail in the UK. The new trains, which will augment the operator’s existing fleet of Bombardier’s electric multiple units, will be manufactured in the UK with initial production commencing in the latter half of 2012.
    Read More
  • EBRD finances expansion of Dalaman airport
    February 27, 2015
    The European Bank for Reconstruction and Development (EBRD) is financing the construction and operation of a new domestic terminal at Dalaman airport in the south-western Turkish province of Muğla under a public-private partnership (PPP) scheme. The Bank is lending US$196 million to YDA Havalimani Yapim ve Isletme, a special-purpose company set up by the Turkish construction and infrastructure company YDA Insaat, which was awarded the concession contract last year. The funds will be used to build a new ener
    Read More
  • Cubic wins Singapore fare collection project
    September 16, 2016
    A consortium of Cubic Corporation subsidiaries, Cubic Transportation Systems (Australia) and Cubic Technologies Singapore (C-Tech) has signed a contract with the Land Transport Authority (LTA) in Singapore to design and deliver automated fare collection equipment for the authority’s future Thomson-East Coast Line.
    Read More

Highlighted Content