Release date: 30 October 2006
Promoter – Financial Intermediary
Transport for London (“TfL”), which is a statutory body created by the Greater London Act 1999 and falling under the London Assembly, which is an elected Local Government body responsible for London public transport, economic development, emergency and police services.Location
Description
Supply and maintenance of a new electric multiple unit rolling stock fleet to be used on the London Overground network, which initially comprises the North London Railway and once its construction in completed, the Extended East London Line
Objectives
The project contributes to the "London Overground" network, one of the main priorities for the Mayor of London, which TfL expects to lead to a significant increase in patronage, reflecting both improved transport opportunities for the areas served and decongestion of other routes. "London Overground" will significantly increase the access of the eligible population in some of the UK’s most deprived areas to the wider London labour market and so to employment opportunities and is a key component of the transport strategy for the London Olympics.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to 50% of senior debt
Environmental aspects
The supply of rolling stock does not fall within the scope of Directive 85/337/EEC (as amended) nor Directive 2001/42/EC and therefore neither an EIA nor a SEA is required for the project.
The project can be expected to contribute to an overall improvement of the urban environment by encouraging the use of public transport in a congested urban area. The new trains will be more energy efficient that those they replace.
The new services will run for the most part on existing railway lines and any additional adverse noise and vibration effects are expected to be marginal. The project can also be expected to reduce private car usage to some extent. This may result in a reduction in greenhouse gases when compared with the do-nothing trend - thereby contributing to mitigating climate change - but these effects are complex and any change would at best be marginal.
The life expired rolling stock on the North London Railway will be scrapped in accordance with industry practice. Some useable components will be recovered and recycled.
Procurement
The rolling stock supply and maintenance contract has been procured in compliance with EU directives on public procurement.
Status
Signed - 20/12/2007
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).