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    Reference: 20150680
    Release date: 29 July 2016

    Promoter – Financial Intermediary

    Department for Transport

    Location

    Description

    New rolling stock for East Anglia train franchise in the United Kingdom. The UK Department for Transport is currently procuring a new train operating company (TOC), which will be responsible for procuring new rolling stock to meet the output requirements of the franchise. Rolling stock financiers (ROCSOs) are bidding to the TOCs to supply the trains on a leased basis. This operation is specific to those ROSCOs offering limited-recourse project finance solutions.

    Objectives

    New trains purchased under this project are to be used to provide services on rail lines that will deliver travel time savings due to higher speed, better acceleration/deceleration and lower station dwell times, as well as increasing reliability and passenger benefits and significantly increasing capacity (reducing overcrowding) and replacing many old diesel stocks. The new trains will all improve WIFI-coverage, passenger information system and air-conditioning systems. Consequently, the project would attract more passengers to public transport, thereby improving the overall performance of the transport system in terms of speed, environment and safety.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    GBP 60 million

    Total cost (Approximate amount)

    GBP 775 million

    Environmental aspects

    Manufacture of the new train sets will take place in the manufacturer(s)'s plant(s) and does not fall within the scope of the Environmental Impact Assessment (EIA) Directive 2011/92/EU; therefore no environmental impact assessment (EIA) is required. During the appraisal it will be assessed whether there are relevant associated facilities, such as new depots, and if that is the case, the due diligence will include verifying compliance of these facilities with relevant EU directives on the environment. The question of the project falling within a plan or a programme requiring a strategic environmental assessment (SEA) in line with Directive 2001/42/EC will also be examined 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 (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

    Status

    Signed - 4/10/2016

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    United Kingdom Transport