Summary sheet
The project will finance the upgrade, modernisation and renewal of multiple schemes of Trans-European Transport Network (TEN-T) and regional railway lines, as well as the acquisition and modernisation of various maintenance vehicles and equipment used by the rail infrastructure manager.
The project is expected to increase the quality of rail services provided in the country, as well as promote travel by rail, reducing the use of road transport and the associated negative impacts on the local environment, road safety and greenhouse gas emissions and, thereby, contribute to the sustainable transport, in line with the EU objectives. Being mostly located in EIB Cohesion Priority Regions and facilitating access to them, the project also promotes regional development.
The project consists of multiple schemes of railway infrastructure in particular related to upgrading, modernisation and renewal of railway lines (TEN-T and regional), acquisition and modernisation of various maintenance vehicles and equipment used by rail infrastructure manager.
The project is expected to improve the quality and capacity of rail infrastructure, bring it to compliance with the TEN-T requirements and applicable TSIs. For some sections, where the works will allow to increase maximum speeds or prevent reduction of maximum speed, it may also generate time savings for passengers. The project will also present environmental and safety benefits as well as vehicle operating cost savings, as better rail services are expected to prevent modal shift from rail to road. Importantly, by means of contributing to achieving interoperability of the EU railway system, the project is expected to improve competitiveness of rail vis à vis other modes; and thereby, enhance sustainable transport and present environmental and safety benefits due to preventing modal shift from rail to road. The project is located in multiple cohesion regions.
Finally, the EIB financing contributes to comfort and diversification of Borrower's financing. Longer maturities of tranches, their individually settable parameters and long grace periods in combination with attractive financial value added, further enhanced by blending with the EU grant, underline the unique approach and attractiveness of the EIB financial support.
The project will consist of multiple schemes and their compliance with the requirements of the environmental impact assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU and the development consents will 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. All else equal, the project is expected to have a positive environmental impact by helping the railways to maintain modal share. Furthermore, the project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate change mitigation.
The promoter has to 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.