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    Reference: 20210708
    Release date: 6 October 2022

    Promoter – Financial Intermediary




    The project will finance the acquisition of 16 electric multiple units, as well as the construction and modernisaiton of maintenance depots in the Provence-Alpes-Côte-d'Azur region.

    Additionality and Impact

    The project is expected to consist of acquisition of Electric Multiple Units (EMUs) to be used for rail services In the region Provence-Alpes-Côte-d'Azur (PACA) region as well as construction and modernisation of rail depots. The new rolling stock will contribute to improving the rail offer and quality of rail services offered in the region, reducing the journey time, promoting more efficient operation, reducing maintenance costs, lowering energy consumption and increasing the level of comfort for passengers. The new and modernised depots are necessary for the newly acquired rolling stock as well as for continuation of the rail services in the region. Indirectly, by improving services, the project will help railways compete with other modes, particularly private vehicles and air, so as to maintain or improve its modal share. Shifting passenger flows from other modes to rail may result in reduced vehicle operation costs, safety and environmental benefits. The project is located in the Azur sector, the busiest and developed sector in the field of rail transport of the PACA region with a high population density and a saturated road network. In the coming years, major infrastructure and network requalification projects will be concentrated in this part of the region.With regard to financial contribution for this project, market conditions for local authorities in FR are not as favourable as EIB financing conditions given more flexible disbursement conditions, lower interest rates and possibility to convert interest rates or to chose easily between variable interest rates and fixed interest rates, and longer maturity in particular.


    The aim is to increase the quality of rail services provided in the region and promote travel by public transport. Reducing the use of private vehicles and the associated negative impacts on the local environment, road safety and GHG emissions, will contribute to the sustainable transport in line with the EU objectives. The project is located in Cohesion Priority region and by facilitating access promotes regional development.


    Proposed EIB finance (Approximate amount)

    EUR 190 million

    Total cost (Approximate amount)

    EUR 390 million

    Environmental aspects

    The acquisition of rolling stock 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. In relation to the depots, the compliance with the requirements of the EIA directive and the development consents are to be reviewed during appraisal. The project's potential impacts on protected areas and species, in accordance with the Habitats Directive (92/43/EEC) and Birds Directive (2009/147/EC) will also be appraised. The project will 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.


    The promoter has to ensure that contracts for implementation of the project have been tendered in accordance with the applicable EU procurement legislation, Directive 2014/23/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 EU Official Journal, as and where required. The acquisition of the rolling stock and the works in the depots are part of the scope of concession contracts, which were awarded through a competitive process, with publication in OJEU under the following reference numbers: 2021/S 237-625800 and 2021/S 237-625799.


    Signed - 29/11/2023

    Under appraisal
    20 September 2023
    29 November 2023


    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).

    Related tags

    France Transport