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    Signature(s)

    Amount
    € 160,000,000
    Countries
    Sector(s)
    Hungary : € 160,000,000
    Transport : € 160,000,000
    Signature date(s)
    11/10/2024 : € 160,000,000

    Summary sheet

    Release date
    17 October 2024
    Status
    Reference
    Signed | 11/10/2024
    20210789
    Project name
    Promoter - financial intermediary
    GYSEV FLEET AND INFRASTRUCTURE - GREEN LOAN
    GYOR-SOPRON-EBENFURTI VASUT ZRT
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 160 million
    EUR 320 million
    Location
    Sector(s)
    Description
    Objectives

    The project consists of acquisition of new Electric Multiple Units, as well as infrastructure works on the rail network operated by GYSEV.

    The new rolling stock and the infrastructure works will contribute to reducing the journey time, promoting more efficient operation, reducing maintenance costs, lowering energy consumption and increasing the level of comfort for passengers. The electrification works will bring reduced emissions due to discontinuing use of diesel trains on this section. 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.

    Additionality and Impact

    The project is expected to consist of acquisition of Electric Multiple Units (EMUs) to be used for rail services in Hungary and Austria, as well as rail infrastructure works on the rail lines managed by GYSEV.

    The new rolling stock and the infrastructure works will contribute to reducing the journey time, promoting more efficient operation, reducing maintenance costs, lowering energy consumption and increasing the level of comfort for passengers. The electrification works will bring reduced emissions due to discontinuing use of diesel rains on this section. 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 a less developed region.

    The flexibility of the disbursement, the tailored availability period, repayment profile and the long tenor facilitate the implementation of the project.

    Environmental aspects
    Procurement

    In relation to the track construction and electrification, the compliance with the requirements of the environmental impact assessment (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 components related to acquisition of rolling stock do not fall under either Annex I or Annex II of the EIA 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.

    The promoter shall ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation, Directive 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 EU Official Journal, as and where required.

    Milestone
    Under appraisal
    Approved
    Signed
    26 October 2022
    11 October 2024
    Related projects

    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).

    Documents

    Environmental and Social Data Sheet (ESDS) - GYSEV FLEET AND INFRASTRUCTURE - GREEN LOAN
    Publication Date
    23 Oct 2024
    Document language
    Main Topic
    Lending
    Document Number
    234719143
    Document Focus
    Environmental Information
    Project Number
    20210789
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

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