FS HIGH SPEED ROLLING STOCK

Acquisition of high-speed passenger rolling stock to be operated in Italy.

The project consists of the acquisition by Trenitalia of 40 high-speed electric trains (ETR 1000 model). The trains are expected to be used by Trenitalia for commercial high-speed passenger services.

The Project consists of the acquisition by Trenitalia of 40 new electric high speed trains. The trains are expected to be used for commercial services on the Italian high speed network.

The Project is expected to increase the capacity of railway services in Italy and improve the level of comfort and accessibility for passengers. Modal shift from road and air to rail may result in reduced vehicle operating costs, safety and environmental benefits.

The EIB financial contribution will entail a long tenor, commensurate with the economic life of the assets financed, and the flexibility to sign in tranches and disbursed expeditiously, in line with Project's implementation.

The project does not fall under either Annex I or Annex II of the Environmental Impact Assessment Directive 2011/92/EU as amended by Directive 2014/52/EU. For the modernisation/extension of existing maintenance depots associated with the project, the promoter shall provide to the Bank evidence of compliance with the EIA Directive and Habitats Directive (92/43/EEC), and confirmation by the competent authority that there will not be significant impact on Natura 2000 sites. The replaced rolling stock will be scrapped or redeployed to other rail services replacing older units, which in their turn would be scrapped. Any scrapping will be carried out by companies specifically authorised for this activity. The project is expected to have a positive environmental impact by helping the railways to maintain and potentially increase modal share in key sections of the passenger market that are most appropriately served by rail. Where and if applicable and with a risk-based approach as defined in the EIB Group Environmental and Social Policy, the requirements of the Environmental Impact Assessment Directive 2011/92/EU as amended by Directive 2014/52/EU, Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC will be checked during appraisal.

The trains are being acquired through a contract for the supply of 30 trains, with an option for additional 10 trains, signed in 2023 as an amendment to a supply contract for 50 trains (the same ETR 1000 model), which was originally signed by Trenitalia with the supplier (Ansaldobreda-Bombardier which later became Hitachi) in 2010. The promoter signed the 2023 contract amendment through a negotiated procedure without prior call for competition. The promoter indicated that this procedure was used because a different train model supplied by another train manufacturer would result in technical incompatibility and disproportionate technical difficulties in operation and maintenance.