The European Investment Bank (EIB) and Hamburger Hochbahn AG (HOCHBAHN) today signed a EUR 160m framework loan agreement for the acquisition of new trains and buses for the Hamburg transport operator. HOCHBAHN will use this framework loan to renew and expand its fleet of trains and buses. This will involve plans in the medium term for investment in new rolling stock for the metro and in standard and articulated buses for Hamburg’s local transport network.
EIB Vice-President Dr Matthias Kollatz-Ahnen said: “This project will enable the goal of a sustainable and environmentally friendly municipal transport system to be achieved. That is one of the EIB’s priorities. We are therefore pleased to be able to make an important contribution here as part of our support programme.”
As Helmut König, Hamburger Hochbahn AG’s Financial Director, put it: “The framework loan agreement and the long-term finance it provides will enable us also in the future to renew and further expand our environmentally friendly, modern and comfortable fleet of trains and buses.”
Background information:
Hamburger Hochbahn AG, which was founded back in 1911, transports over a million passengers daily on its underground trains and buses. It is the Hamburg Transport Association’s largest operator and, with its staff of over 4 400, provides around 55% of the bus and high-speed rail services in the City of Hamburg.
The European Investment Bank is the European Union’s long-term financing institution and its remit is to further the EU’s objectives by providing long-term finance for viable projects.
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