LONDON OVERGROUND CAPACITY IMPROVEMENT

Promoter – Financial Intermediary

TRANSPORT FOR LONDON

Location

• United Kingdom

Description

Addition of up to 65 cars to the existing rolling stock fleet to provide for 5-car unit train services on the London Overground lines as well as infrastructure improvements on the network for capacity enhancements.

Objectives

The project will increase the efficiency and quality of public transport services in Greater London. By facilitating the improvement of the level of service, principally by reducing the level of peak hour crowding, the project is expected to contribute to encouraging modal shift away from road transport promoting time, vehicle operating cost and safety benefits.

Comments

Sector(s)

• Transport - Transportation and storage

Proposed EIB finance (Approximate amount)

GBP 130 million (EUR 154 million)

Total cost (Approximate amount)

GBP 282 million (EUR 334 million)

Environmental aspects

Manufacturing of rail rolling stock doesn’t fall under the EIA directive 2011/92/EU. Some of the schemes will be related to improved public transport infrastructures and therefore might fall under Annex II, according to which authorities decide on a case-by-case basis whether EIA has to be carried out or not. Full details on EIA and Natura 2000 issues will be checked at appraisal stage. The project contributes to reducing reliance on private cars and negative impact of transport on the environment, thus contributing to climate change objectives.

Procurement

The promoter is a public entity subject to EU public procurement regulations. The Bank will require the promoter to ensure that contracts for the implementation of the Project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and 2004/18/EC) with parallel publication of tender notices in the EU Official Journal, as and where appropriate. All the details will be checked at appraisal stage.

Status

Signed - 7/05/2013