URBAN MOBILITY FOR LONDON

Promoter – Financial Intermediary

TRANSPORT FOR LONDON

Location

• United Kingdom

Description

The project consists of schemes that renew and upgrade existing track lines and stations of the London Underground, as well as the construction of a network of cycle tracks, connecting the city with the surrounding suburbs.

Objectives

The project will increase the capacity and quality of public transport services in the Greater London area and thereby support sustainable transport solutions in line with EU objectives. The project indirectly contributes to growth and employment, as the forecasted population and employment growth in Greater London is only possible if the capacity of the London Underground, the city’s key transport mode, is enlarged and its facilities modernised.

Sector(s)

• Transport

Proposed EIB finance (Approximate amount)

GBP 1000 million

Total cost (Approximate amount)

GBP 2173 million

Environmental aspects

Some of the upgrading schemes may have an environmental impact and therefore fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU. Compliance with the EIA Directive, and whether the schemes were included in a plan or programme that was subject to strategic environmental assessment (and thus an assessment of the cumulative impacts in accordance with Directive 2001/42/EC), will be reviewed during appraisal. Compliance with Habitats Directive 92/43/EEC or Birds Directive 2009/147/EC will also be addressed during 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.

Status

Signed - 19/06/2015