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    Reference: 20180375
    Release date: 1 April 2019

    Promoter – Financial Intermediary

    RENFE OPERADORA

    Location

    Description

    the project consists of the acquisition of 31 trainsets (26 electric and five hybrid) to replace ageing rolling stock in metric gauge rail network of Asturias, Cantabria and Vizcaya in Spain.

    Objectives

    The project supports the shift of traffic to more sustainable transport modes and reduces related negative transport externalities The project is expected to generate operating and maintenance costs savings. It should also improve the quality and comfort of the services, thus ensuring accessibility to rural areas in these regions. As one of the pillars of the plan for improvement of suburban services, fleet renewal will foster modal shift from road to rail (or at least maintain rail modal share) and therefore contribute to the reduction of accidents, pollution and noise levels especially within urban agglomerations, as well as CO2 emissions. The project will thus contribute to meeting the Bank's target for support to climate action. The project is eligible under Article 309 point (c) common interest. The project's compliance with the Lending Policy for Transport (Decision CA/452/11) is to be confirmed during the appraisal.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 150 million

    Total cost (Approximate amount)

    EUR 201 million

    Environmental aspects

    The investment proposed under the project does not fall under either Annex I or Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU) as manufacturing and use of rail rolling stock is not included in either list. The need of EIA and/or assessment according to the Habitats Directive 92/43/EEC for associated facilities (e.g. maintenance workshops or depots), not included in the investment proposed but needed for the correct operation of the new rolling stock, will be analysed during the appraisal. Arrangements for the replacement or decommissioning of old rolling stock will be reviewed during appraisal. All else equal, the project is expected to have a positive environmental impact by contributing to modal shift from road to railways.

    Procurement

    The Bank will require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, 2014/25/EU as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the European Union, as and where required.

    Status

    Signed - 30/07/2019

    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

    Spain Transport