Release date: 8 September 2020
Promoter – Financial Intermediary
MAV-START VASUTI SZEMELYSZALLITO ZRTLocation
Description
Acquisition of 21 double decker Electric Multiple Units to be used for regional connections in Hungary.
Objectives
The project is expected to increase the quality of rail services provided in Hungary as well as promote travel by rail, reducing the use of private vehicles and the associated negative impacts on the local environment, road safety and greenhouse gas (GHG) emissions and, thereby, contribute to sustainable transport in line with EU objectives. The project is primarily located in a convergence zone and by facilitating access promotes regional development. The project is therefore eligible under Article 309 point (a) projects to develop less developed regions as well as point (c) common interest. The project will also contribute to meeting the Bank's target for support to climate action. The project is likely to comply with the Lending Policy for Transport and this is to be confirmed during appraisal.
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 158 million
Total cost (Approximate amount)
EUR 318 million
Environmental aspects
The investments proposed under the project do 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 for associated facilities (e.g. maintenance workshops or depots) will be analysed during the appraisal. All else equal, the project is expected to have a positive environmental impact by helping the railways to maintain modal share in key sections of the passenger market that are most appropriately met by rail. In addition, the arrangements for the scrapping of the replaced stock will be checked during appraisal.
Procurement
The Bank will require the promoter to ensure that contracts for implementation of the project have been tendered in accordance with the 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 publication of tender notices in the Official Journal of the EU, as and where required.
Status
Signed - 4/10/2022
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).