DINO DOPPELSTOCKTRIEBZUEGE

Promoter – Financial Intermediary

OEBB-PERSONENVERKEHR AG

Location

• Austria

Description

The scope of the project entails the purchase of electric trains to be used for regional passenger railway services in the eastern regions of Austria. The promoter is OEBB-Personenverkehr AG. The EIB will finance the new rolling stock, in total about 41 "DINO" double-deck trainsets.

Additionality and Impact

The Bank's loan will finance the acquisition of new train rolling stock by ÖBB PV for regional passenger rail services in the "Ostregion" (Eastern regions of Austria).

The project supports a shift to more sustainable transport. It represents good value and has an excellent environmental and social impact by delivering the new trains needed to continue and expand the operation of the most important part of public transport in the "Ostregion". in the shape of its regional train network. The Bank's support for the project will also help realise the cost savings and further benefits over the asset life time generated by the promoter's leading involvement. The new trains will help offer accessible, reliable, affordable and high quality public transport, connecting citizens with employment opportunities, social and educational infrastructure and the wider transportation network. 

The Bank's loan provides an important contribution to the funding of the borrower's ambitious top-climate action-rated capex programme for a modern train fleet. Thus, it supports the diversification and stability of the borrower's funding base. The very long maturity is of distinct value, matching the 30 years' economic life span of the underlying rolling stock assets rather than the much shorter validity of the borrower's current existing Public Service Contracts for regional public transport.

Objectives

The project consists of the acquisition of new rolling stock (expected to be 41 double-deck electric multiple units (EMUs)) and associated equipment to operate the project fleet's rail passenger services on the Austrian railway network. The trains are expected to have operational capability on Austrian, German, Czech, Slovakian and Hungarian networks as part of cross-border traffic. The project fleet will replace existing aging rolling stock assets and unlock the capacity to deliver to future service requirements. The new trains are scoped to be compliant with all relevant Technical Specifications for Interoperability, offer more comfort, improved energy efficiency and lowered carbon emission. The new fleet is part of a programme of sector-wide works including new infrastructure (electrification and signalling) and rolling stock for Austrian railways in the east of the country.

Sector(s)

• Transport - Transportation and storage

Proposed EIB finance (Approximate amount)

EUR 200 million

Total cost (Approximate amount)

EUR 829 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 2011/92/EU as manufacturing of rail rolling stock is not included in either list. The need of EIA and/or assessment according to the Habitats Directive for associated facilities (e.g. maintenance workshops, depots or infrastructure) and the arrangements for the scrapping of the replaced rolling stock will be analysed during the appraisal. The project is expected to have a positive environmental impact by helping the railways to maintain or even enlarge modal share in key sections of the passenger market that are most appropriately met by rail.

Procurement

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 2014/25/EU) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 20/06/2023