Release date: 9 February 2023
Promoter – Financial Intermediary
SPRAVA ZELEZNIC STATNI ORGANIZACELocation
Description
The project supports multiple schemes of railway infrastructure with the aim to: (i) upgrade, modernise and renew trans-European networks (TEN-T) railway lines (ii) deploy European Rail Traffic Management System (ERTMS) on railway lines and retrofit of maintenance vehicles with ERTMS equipment (iii) improve safety of level crossings.
Additionality and Impact
The project consists of multiple schemes of railway infrastructure in particular related to (i) upgrading, rehabilitation and renewal of TEN-T railway lines, (ii) deployment of European Rail Traffic Management System (ERTMS) on railway lines, retrofit of maintenance vehicles with ERTMS equipment, improvement of cybersecurity of Promoter's ICT systems and (iii) improving safety of level crossings.
The project is expected to improve the quality and capacity of rail infrastructure, bring it to compliance with the TEN-T requirements and applicable TSIs. For some sections, where the works will allow to increase maximum speeds or prevent reduction of maximum speed, it may also generate time savings for passengers. It will also present environmental and safety benefits due to promoting shift from road to rail expected to take place because of better rail services, as well as related vehicle operating cost savings. Safety benefits will also be linked to improvements of level crossings. Finally, by means of contributing to achieving interoperability of the EU railway system, the project is expected to improve competitiveness of rail vis à vis other modes; and thereby, enhance sustainable transport and present environmental and safety benefits due to preventing modal shift from rail to road.
The project is located in multiple cohesion regions.
The EIB advantageous and flexible loan contributes to diversification and stability of financing of the Czech Sovereign. Maturity of the tranches and longer grace periods combined with a possibility of currency and/or interest rates conversion add up to the Borrower's comfort.
Objectives
The project is expected to increase the quality of rail services provided in the Czech Republic, as well as promote travel by rail, reducing the use of road transport and the associated negative impacts on the local environment, road safety and GHG emissions and, thereby, contribute to the sustainable transport in line with EU objectives. The project is mostly located in EIB Cohesion Priority Regions and by facilitating access promotes regional development. Several schemes are aimed at increasing the capacity of the existing lines and removing bottlenecks, and thus allowing traffic growth. For some sections, where the works will allow to increase maximum speeds or prevent reduction of maximum speed, it may also generate time savings for passengers. The project will also present environmental and safety benefits due to preventing modal shift from rail to road because of better rail services and improved safety of level crossings, as well as related vehicle operating cost savings. Finally, by means of contributing to achieving interoperability of the EU railway system, the project is expected to improve competitiveness of rail vis à vis other modes; and thereby, enhance sustainable transport.
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
CZK 48750 million (EUR 2069 million)
Total cost (Approximate amount)
CZK 97500 million (EUR 4139 million)
Environmental aspects
The project will consist of multiple schemes and their compliance with the requirements of the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU and the development consents will be reviewed during appraisal. The project's potential impacts on protected areas and species, in accordance with the Habitats Directive (92/43/EEC) and Birds Directive (2009/147/EC) will also be appraised. All else equal, the project is expected to have a positive environmental impact by helping the railways to maintain modal share. Furthermore, the project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate change mitigation.
Procurement
The Bank will require the promoter to 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
Signed - 25/09/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).