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

  • Diesel ban needs action plan, says transport group
    September 3, 2020
    Financial package also required to enable households and businesses make EV switch
    Read More
  • Video analytics enhances urban rail safety
    December 16, 2016
    David Crawford explores some promising innovations for North American commuters. North America is experiencing a surge in commuter rail and metro development. The US now has 75 light rail and metro networks in operation; and California, in particular, is actively exploring ways of developing the state’s existing passenger rail operations into a fully integrated system.
    Read More
  • Future Railway launches pantograph design competition
    March 12, 2014
    As part of the UK’s rail electrification programme, FutureRailway is launching a competition to design a Pantograph Dynamic Behaviour Measurement Device for use in Rolling Stock Maintenance Depots. Currently pantographs cannot be run too close together and are limited in the speed they can achieve. Electric trains which can run at faster speeds whilst coupled together in multiple could improve both train performance and network capacity. Improvements in pantograph capability are thought to be needed to r
    Read More
  • Viaduct deck renewal creates detour dilemma for MassDOT
    May 26, 2016
    As the deck renewal of the I-91 viaduct in Springfield gets underway, David Crawford looks at the preparation and planning to ease the resulting traffic congestion. Accommodating the deck renewal of a 4km-long/four-lanes in each direction viaduct in the heart of Springfield (Massachusetts’ third largest city), has involved the state’s Department of Transportation (MassDOT) in a massive exercise in transport research and ITS-based area-wide preplanning and traffic management. Supporting a workzone of well ab
    Read More

Highlighted Content