CFL MATERIEL ROULANT

Financing of new rolling stock to be acquired by the Luxembourg's railways operator during the period 2018-2022.

The project should contribute to meet the increasing demand for train transport services and to increase the efficiency, reliability and level of service of public transport services in Luxembourg. Moreover, the project will foster modal shift from road to rail on domestic and cross-border traffic with Luxembourg and therefore contribute to the reduction of road congestion, pollutant emissions and noise levels especially within urban agglomerations.

The manufacturing of the new train sets will take place in the manufacturer's plant and does not fall within the scope of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU); The need of EIA and/or assessment according to the Habitats Directive for associated facilities (e.g. maintenance workshops or depots) and the arrangements for the scrapping of the replaced rolling stock will be analysed during the appraisal. Compliance with applicable EU directives will be checked during the bank's due diligence at appraisal. The project is expected to have a positive environmental impact by helping the railways to maintain modal share in key sections of the passenger market that are most appropriately met by rail.

The bank will require the promoter to ensure that contracts for the implementation of the project will be tendered in line with the national legislation and in accordance with the relevant applicable EU procurement legislation. The contract notice was published on the Official Journal of the EU (2017/S 089-175693).