- Danske Statsbaner (DSB) has drawn €500 million in financing from the European Investment Bank.
- The financing will support the acquisition of 100 new trainsets to replace ageing rolling stock.
- The first new trains financed under the agreement are scheduled to start operating in 2024.
DSB has finalised a 25-year lending agreement with the European Investment Bank (EIB), worth €500 million, for the acquisition of new trainsets. The Danish railway company will acquire 100 new electric multiple units, replacing ageing diesel-powered trains (IC3 and IC4 models). The modernisation of its fleet will allow DSB to accommodate the anticipated future growth in passenger traffic, replace older train sets and meet future demand for more services with better quality and reliability.
“The new electric trainsets will be the backbone of future public transportation in Denmark and the investment is a significant contribution to the green transition of Danish society. DSB is very pleased with the long-standing cooperation with the EIB and the trust and confidence which the EIB shows by providing long-term financing for DSB. It is very satisfactory for DSB that our initiatives and plans for more sustainable public transportation are recognised and that we on that basis can attract financing from one of the most trustworthy lenders in the market,” said Flemming Jensen, CEO of DSB.
By replacing diesel-powered trains with electric units, the lending agreement falls within the framework of DSB’s environmental policy and its strategic fremtidens tog programme to future proof rail traffic in Denmark. The trains will primarily be used on the Danish core network, connecting Jutland with the Copenhagen region, while part of the rolling stock will also serve the Sjᴂlland region.
“I am pleased the EIB has been able to support DSB in making this sustainable transition, replacing existing diesel with clean efficient electric rolling stock,” said EIB Vice-President Christian Kettel Thomsen. “We should not underestimate the importance and contribution of rail traffic to limiting the impact of climate change. The quality of services and comfort of trains are important factors in encouraging people to shift away from commuting by car to using public transport.”
Background information:
In 2021, the EIB provided some €689 million in loans for Danish projects in various sectors, including services, innovative industry and small and medium-sized enterprises.
Founded in 1885, Danske Statsbaner (Danish State Railways) or DSB is an independent public state-owned corporation under the Danish Ministry of Transport and Energy. It is the largest Danish train operating company and the largest in Scandinavia, and is responsible for passenger train operation on most of the Danish railways. DSB employs about 7 400 staff and serves more than 195 million passengers each year.