Release date: 4 August 2011
Promoter – Financial Intermediary
Transport for London and Department for Transport
Location
Description
The project, to be procured under a PPP arrangement, is part of the overall London Crossrail project, and consists of the manufacture and maintenance of approximately 60 new trains to be used for the Crossrail services. The project also includes the construction and operation of the depot for the new fleet, foreseen in the brownfield location of Old Oak Common.
Objectives
The project is part of the overall London Crossrail Project, which is one of the fundamental components of the London Plan, the Mayor’s vision for 2025 for the development of London as an exemplary sustainable world city. It aims to improve the City’s accessibility by public transport, thus keeping up with its necessity of business and tourism expansion by means of sustainable modes such as efficient, effective and attractive public transport.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to GBP 350 million
Total cost (Approximate amount)
Approximately GBP 1.2 billion
Environmental aspects
Urban railway projects fall under Annex II of Directive 85/337/EC and subsequent revisions, according to which the competent authority decides on the need of an EIA on a case by case analysis. A full EIA has been carried out for the overall Crossrail Project, and Form A has already been provided to the Bank. Concerning new trains, their construction will take place in the manufacturer’s plants and does not fall within the scope of Directive 85/337/EEC (as amended); the same goes for the implementation, therefore no EIA is required for this component. The Crossrail project overall is expected to have a positive impact on environment, with a forecast net overall reduction in CO2 emissions in the range of 20 000 tons per year.
Procurement
Transport for London and Rail for London are organisations subject to EU public procurement directives (in this case 2004/17/EC). According to this, procurement of new trains has to be done according to EU Directives. The prequalification phase has already been carried out with OJEU notice issued in December 2010; the 5 shortlisted bidders were announced in April 2011; invitation to negotiate should be issued in Q3 2011. Contract award and financial close is expected by end of 2013.
Status
Signed - 12/12/2013
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).