GYSEV MODERNISATION

Promoter – Financial Intermediary

GYOR-SOPRON-EBENFURTI VASUT ZRT

Location

• Hungary

Description

Acquisition of new locomotives and rolling stock for passenger transport integrated into GySEV’s investment programme, together with various safety infrastructure improvements to provide high quality public service in the forthcoming years. The planned acquisition consists of 9 new locomotives and 5 Electric Multiple Units (EMU), which will contribute to the renewal and expansion of the Promoter’s existing fleet on the considerably extended railway network operated by GySEV.

Objectives

It will contribute to increasing capacity and enhancing quality of GySEV’s rail transport services to efficiently and safely operate its rail network. The new rolling stock will improve the competitiveness of transport by rail, in line with EU policy objectives of promoting sustainable transport, as a modal shift from road to rail would reduce emissions and increase safety.

Comments

-

Sector(s)

• Transport

Proposed EIB finance (Approximate amount)

EUR 40 million

Total cost (Approximate amount)

EUR 100 million

Environmental aspects

The project does not fall under either Annex I or Annex II of the Environmental Impact Assessment directive 2011/92/EU, since manufacturing and use of rail rolling stock are not included in either list. The project is expected to have some positive environmental impact by helping the railways maintaining its modal share in key corridors . Compliance with EU environmental standards will be assessed in the appraisal.

Procurement

The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (2004/17/EC and Dir. 2007/66/EC [amending Directives 1989/665/EEC and 1992/13/EEC]), with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 19/07/2016