29 October 2020
Promoter – Financial Intermediary
AKIEM HOLDING SAS
Acquisition of new electric locomotives, retrofitting with European Railway Traffic Management System (ERTMS) equipment and upgrade of the existing ERMTS equipment of existing locomotives to deployed on the nine Trans-European Transport Network (TEN-T) Corridors.
The project will improve rail freight transport services in Europe, thus preventing a modal shift towards road transport. The project will thereby promote sustainable transport solutions in line with EU objectives, as the shift from road to rail would reduce emissions and increase safety. Furthermore, the rolling stock will be used to provide services on nine TEN-T Corridors and in convergence regions, and thereby facilitate regional development. The project is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest. The project will thus contribute to meeting the Bank's target for support to climate action.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
The manufacture of the new locomotives will take place in the manufacturer's plant and does not fall within the scope of the EIA Directive 2011/92/EU; therefore, no environmental impact assessment (EIA) is required.
Compliance with applicable EU directives and EU environmental regulations will be checked during the Bank's due diligence at appraisal, together with the application of correct environmental policies and procedures for the scrapping of old vehicles.
The provision of improved rail freight services is expected to draw freight transport away from the roads. This would be environmentally beneficial as it reduces energy consumption, road congestion, noise and pollution and increases transport safety.
The Promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and thus is not subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that the Promoter is after all subject to EU public procurement legislation, then the Bank would require that the Promoter ensure that contracts of the project have been / will be tendered in accordance with the relevant applicable EU procurement legislation.
Under appraisal - 4/09/2020