CARLA OPEN-ACCESS HIGH SPEED RAILWAY FRANCE

Promoter – Financial Intermediary

KEVIN SPEED SAS

Location

• France

Description

The project will finance the purchase of 20 new high-speed trainsets by a new operator to launch commercial services in France as well as the construction of three maintenance depots. The trains will be operated on open access basis on the three corridors from Paris to Lyon, Lille and Strasbourg with an all stop and high-frequency offer agreed with the Infra Manager within a long term Track Access Framework Agreement.

Objectives

The project supports the liberalisation of passenger railway services and the expansion of the high-speed rail markets in France, thereby promoting a single rail market as well as modal shift from road and air to rail and sustainable transport in line with EU objectives. It also produces agglomeration economies, additional to the benefits accruing to transport users. The launch of new high speed services supports the development of competition in a sector with high barriers to entry. Electric rail transport is acknowledged to make a substantial contribution to climate change mitigation; the project is therefore expected to contribute to Climate Action and Environmental Sustainability (CA&ES) objectives, in particular to climate mitigation and pollution prevention. Some of the lines on which the trains will operate are located in transition regions.

Sector(s)

• Transport - Transportation and storage

Proposed EIB finance (Approximate amount)

EUR 400 million

Total cost (Approximate amount)

EUR 1000 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 (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 Habitants Directive 92/43/EEC 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 increase modal share in key sections of the passenger market that are most appropriately met by rail.

Procurement

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the promoter to apply those rules.

Status

Under appraisal - 16/07/2024