Release date: 12 October 2023
Promoter – Financial Intermediary
TRENITALIA SPALocation
Description
The project will finance the purchase of 102 new electric multiple units (EMUs), for regional rail services in Campania and Lazio, as well equipping these vehicles with European Rail Traffic Management System (ERTMS).
Additionality and Impact
The Project consists of the acquisition by Trenitalia of 102 new electric multiple units (EMUs). The EMUs are expected to be used for regional rail services in Campania and Lazio and will replace life expired units which will be taken out of service and scrapped.
The Project is expected to improve reliability, reduce maintenance, increase the level of comfort and accessibility for passengers. Preventing modal shift from rail to road may result in reduced vehicle operating costs, safety and environmental benefits.
EIB financing, with its long tenor andflexible features, better aligned to the Project's characteristics, will contribute to diversify the Borrower's funding structure in terms of maturity profile and optimise its capital structure.
Objectives
The aim is to replace life expired units which will be taken out of service and scrapped. The rolling stock will be in conformity with the applicable Technical Specifications for Interoperability (TSI). The services will be operated under Public Service Contracts (PSCs) with the regions. The PSCs for Campania and Lazio were directly awarded to Trenitalia for 2019-2033 and 2018-2032 respectively.
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 500 million
Total cost (Approximate amount)
EUR 1346 million
Environmental aspects
The project will 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. The project does not fall under either Annex I or Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (amended by Directive 2014/52/EU). Any need for an EIA and/or Habitats Directive regarding the related facilities (e.g. maintenance workshops or depots) will be analysed during the appraisal. Any scrapping process of the replaced stock will also be checked during appraisal. The rolling stock will comply with the applicable Technical Specifications for Interoperability (TSI), including the Regulation 2014/1300 on the technical specifications for interoperability relating to accessibility of the Union's rail system for persons with disabilities and persons with reduced mobility (PMR).
Procurement
The promoter has 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 or Directive 2004/17/EC, where applicable, as well as Directive 92/13/EEC, as interpreted by the EU Court of Justice (OJEU), with publication of tender notices in the OJEU, as and where required. The contracts for the supply of rolling stock have already been placed. The call for competition and award notices were published in the OJEU (2015/S 147-272253, 2016/S 152-276413 and 2021/S 181-471957).
Status
Signed - 7/12/2023
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).