GYSEV RAIL ROLLING STOCK (FL 2021-0789)

Promoter – Financial Intermediary

GYOR-SOPRON-EBENFURTI VASUT ZRT

Location

• Hungary

Description

The project concerns the purchase of nine inter-city electric multiple-units (EMUs) in Hungary.

Additionality and Impact

The project is expected to consist of acquisition of Electric Multiple Units (EMUs) to be used for rail services in Hungary under a public service contract.

The new rolling stock will contribute to reducing the journey time, promoting more efficient operation, reducing maintenance costs, lowering energy consumption and increasing the level of comfort for passengers. Indirectly, by improving services, the project will help railways compete with other modes, particularly private vehicles and air, so as to maintain or improve its modal share. Shifting passenger flows from other modes to rail may result in reduced vehicle operating costs, safety and environmental benefits. The project is located in a less developed region.

The flexibility of the disbursement, the tailored availability period, repayment profile and the long tenor facilitate the implementation of the project.

Objectives

The new rolling stock will contribute to reduce journey time, increase passengers comfort and operational efficiency as well as lower maintenance costs and energy consumption. By improving the quality of services, the new EMUs will enable railways compete with other transport modes, particularly private vehicles and air, to maintain or improve its modal share. Shifting passenger flows to rail transport will reduce vehicle operation costs, increase safety and ultimately bring environmental benefits.

Sector(s)

• Transport - Transportation and storage

Proposed EIB finance (Approximate amount)

EUR 116 million

Total cost (Approximate amount)

EUR 116 million

Environmental aspects

The project does 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. In addition, the arrangements for the scrapping of the replaced stock will be checked during appraisal. All else equal, the project is expected to have a positive environmental impact by helping the railways to maintain modal share in key sections of the passenger market that are most appropriately met by rail.

Procurement

The promoter shall ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation, Directive 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.

Status

Approved - 15/06/2023