NURMINEN LOGISTICS PROJECT

The project consists of the acquisition of c. 700 new freight wagons by the Russian subsidiary of Nurminen Logistics, one of the main Finnish transport services providers.

Objectives

The project is of significant interest to the EU in the transport sector for the following reasons. Firstly, it is in line with the EU Russia Common Economic Spaces and EU Ukraine Action Plan. Amongst other things, these seek to establish favorable conditions for rail transport as well as to develop and strengthen cooperation in the transport field through modernisation, harmonisation and increased competition. Secondly, based on historic and forecast trade flows, rail will remain a dominant mode for facilitating trade, and therefore regional integration, between the EU and CIS countries, particularly Russia and Ukraine. Thirdly, the rolling stock to be purchased would be used mainly on the Russian and Ukrainian rail networks, a significant share of which lie on the Pan-European Corridors and on the extended trans-European transport network (TEN-T). Fourthly, the project will promote competition in the rail freight market in Russia and Ukraine in line with those countries respective

Comments

Sector(s)

Transport

Proposed EIB finance (Approximate amount)

EUR 23 million

Total cost (Approximate amount)

EUR 51 million

Environmental aspects

If situated in the EU, the project would not fall under either Annex I or Annex II of the Environmental Impact Assessment directive 85/337/EEC as manufacturing and use of rail rolling stock is not included in either list. All else equal, the project is expected to have a positive environmental impact by helping the railways to maintain modal share in key sections of the freight market that are most appropriately met by rail. Compliance with EIB environmental and social standards will be assessed in the appraisal.

Procurement

Procurement is expected to be in line with Bank's Guide to Procurement for private sector projects. The Bank's services will verify details during the project's due diligence.

Status

Approved - 05/06/2012.

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. Therefore data provided on this page is indicative and cannot be considered to represent official EIB Policy (see also the Explanatory notes).

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Guide to procurement

This Guide applies specifically to those components of a project identified for the Bank's financing.