Release date: 24 August 2021
Promoter – Financial Intermediary
REGION HAUTS-DE-FRANCELocation
Description
The project entails the acquisition of 33 trainsets for regional rail transport, including 22 trains for services on the Amiens – Paris and St. Quentin-Paris line, and 11 trains for services between Picardie (Amiens, Creil, Compiègne, St. Quentin) and Roissy Charles de Gaulle Airport line.
Additionality and Impact
The project consists of the acquisition of electric trainsets for regional passenger services. It is expected to generate good economic and social benefits, improving safety, comfort and better access for persons with reduced mobility. The shift of passenger traffic to rail addresses market failures by reducing negative transport externalities, such the harm to humans in terms of accidents and loss of life, noise, pollution and CO2 emissions. The rolling stock will be equipped with the European Railway Traffic Management System, thus addressing a coordination failure.
The EIB's involvement in the financing of the project will lead to the improvement of the promoter's financial profile by diversifying its funding base, increasing its debt maturity structure and lowering its average cost of funding.
The resulting rating is "excellent".
Objectives
The project should improve the quality and increase the offer of regional passenger rail services in the Region Hauts de France. The project will promote sustainable transport as it fosters modal shift from the road and therefore contributes to the reduction of CO2 emissions and pollution levels within the regional urban agglomerations, and will therefore contribute towards EIB's volume target commitment to climate action. The impact on modal share would also improve transport safety. The rolling stock is expected to be mostly used in transition regions. The project is therefore eligible for financing under Article 309 point (a) projects for developing less-developed regions and 309 point (c) common interest.
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 282 million
Total cost (Approximate amount)
EUR 574 million
Environmental aspects
The investment proposed under the project does not fall under either Annex I or Annex II of the Environmental Impact Assessment 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) as well as the arrangements for the scrapping of the replaced rolling stock 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 and increase modal share in key sections of the passenger market that are most appropriately met by rail.
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation: Directive 2004/17/EC, applicable at the time of procurement, 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 (OJEU), as and where required. The rolling stock is being procured under an existing framework contract, valid until July 2025, for which the contract and award notices were published in the OJEU (2008/S 134-180288; 2010/S 59-087369).
Status
Signed - 29/12/2021
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).