On Thursday 12 December 2013 at the Alsace Region’s head office Philippe Richert, President of the Alsace Regional Council and a former government minister, and EIB Vice-President Philippe de Fontaine Vive signed a EUR 120 million financing agreement to purchase new Régiolis trainsets.
This agreement will help push forward regional initiatives, in particular the introduction of Régiolis on Alsace’s TER regional express rail network. The purpose of this EUR 120 million financing agreement between the Alsace Region and the European Investment Bank (EIB) is to renovate and upgrade the region’s TER network through the acquisition of new Régiolis trainsets.
The EIB is the second biggest lender to the Alsace Region. This EIB financing operation enables the Alsace Region to benefit from very attractive financial terms via a long-term loan.
The loan will go towards acquiring 24 Régiolis electric trains to be deployed across the entire TER network. These spacious, attractive and comfortable trains will have nearly 8 000 seats and will carry an additional 3 000 passengers each day, representing an increase of 10% compared to current capacity. They will provide an optimal service to passengers with innovative audio-visual information and will have low floors at platform level for easier accessibility. These environmentally friendly trains will be equipped with compact, high-performance engines which will be more energy-efficient than previous generations of electric engines. The 24 Régiolis trains will operate across the entire Alsace network and will have an original livery design presenting the attractions of Alsace.
At the signing of the agreement, EIB Vice-President Philippe de Fontaine Vive declared: “I am delighted that the EIB is financing this project to acquire new rolling stock. Supporting sustainable, innovative transport is one of our priorities. That is what Europe is all about – a tangible commitment to its regions to achieve economic growth and improve the daily lives of Europe’s citizens.”
Philippe Richert remarked: “Thanks to the EIB, a number of regional initiatives will be implemented, including the introduction of Régiolis trains on Alsace’s TER network. The Alsace Region’s sound budgetary management can therefore continue thanks to an attractive finance contract such as the one signed today.”
At a time when the EIB is stepping up its activities in support of growth and job-creating projects, this long-term loan on attractive terms thanks to the EIB's "AAA" rating is vital for the Alsace Region. In the current context of shrinking credit supply on the market, it will help to optimise the project's overall financing plan.
The EIB is the second biggest lender to the Alsace Region. Following the EUR 50 million loan for the second phase of LGV Est, this new loan will enable the Region to cover its financing needs in 2014 and subsequently thanks to its competitive financing terms.
This loan reflects the EIB’s concrete activity in France in support of public transport and regional planning projects aimed at improving energy efficiency and the quality of life of the population.It continues the EIB’s unprecedented commitment to growth and employment in France for which the Bank has already dedicated EUR 6 billion since January 2013 – an increase in activity of more than 60% compared to 2012.