SJ ROLLING STOCK

The project comprises the acquisition of 25 electric high-speed trainsets equipped to operate in Sweden, Norway and Denmark.

The trainsets procured will be equipped to operate in Sweden, Norway and Denmark, and will predominantly be used to provide commercial long distance rail services connecting Stockholm and Gothenburg with other major cities in Sweden and the Nordics. Traffic operations are planned on the routes Stockholm-Gothenburg, Stockholm-Malmö-Copenhagen, Stockholm-Sundsvall-Umeå, Stockholm-Karlstad-Oslo, Gothenburg-Malmö-Copenhagen mainly on the TEN-T network.

The project consists of the acquisition of electric rolling stock for high speed rail services to be used in commercial service in Sweden and potentially neighbouring countries. The project is expected to contribute to triggering a modal shift from road and air to rail, and 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 as 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 financing will offer flexible terms with a favourable availability period offering the possibility to match the drawdown profile with the project outflows as well as a long maturity. The operation will also provide the Borrower continued diversification of its funding sources.

The investments proposed under the project do 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. 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 expand their 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 project is expected to contribute to Climate Action and Environmental Sustainability (CA&ES) objectives, in particular to climate mitigation and climate adaptation and pollution prevention.

The Bank will require the promoter to ensure that contracts for implementation of the project have been tendered in accordance with the applicable EU procurement legislation, 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.