- EIB signs loan agreement with railway company SJ AB to buy 25 high-speed trains with maximum speeds of up to 250 km/h
- Passengers in Sweden, Norway and Denmark to benefit from improved transportation options.
- Financing will support modernisation and expansion of commercial rail services in Sweden and the shift from road and air to rail transport
The European Investment Bank (EIB) has signed a SEK 175 000 million loan (€154.8 million) agreement with SJ AB. The financing will support the acquisition of 25 high-speed trains with maximum speed of up to 250 km/h to operate in Sweden, Norway and Denmark.
The trains will initially be deployed on the Stockholm-Malmö route, the route with highest demand in Sweden, and then further to Copenhagen. At a later stage, the new trains will be redeployed to other lines in the Stockholm-Gothenburg-Malmö triangle as well as to Oslo. The trains are expected to enter commercial service between 2026 and 2028.
Passenger rail traffic growth rates in Sweden are twice as high as the EU average, and rail traffic is expected to continue growing. With this financing, the oldest long-distance trains will be replaced and the overall capacity of SJ’s fleet will be increased, offering more reliability and comfort for passengers.
EIB Vice-President Thomas Östros said: “More investment in sustainable transport modes is crucial to mitigate the climate crisis. Hence, we are very happy at the EIB to be able to support SJ as they now invest in upgraded and modernised high-speed trains to meet the increasing demand in Sweden and some of its neighbouring countries to travel by rail.”
SJ Senior Vice President and Head of its Rolling Stock Division Arvid Fredman said: “SJ has launched its biggest ever investment programme, and in a few years we will have one of Europe’s most modern train fleets. It is absolutely necessary so that we can continue to contribute to both climate goals and growth in Sweden.”
Background information
The European Investment Bank (EIB) finances sound investment contributing towards EU policy goals, including competitiveness, innovation, social and territorial cohesion, as well as the just and swift transition to climate neutrality. In 2022 the EIB made available over €1.6 billion in financing for Swedish projects.
SJ is a Swedish travel company that offers sustainable train journeys under its own auspices and in collaboration with others. SJ is one of Sweden's greenest brands and part of the solution to achieving the climate goals. The group's 4,800 employees in Sweden and Norway all contribute to increased train travel – the future way of travelling.