News Column

United Kingdom : EIB offers 150 million loan for advancement of RHEINBAHN TRAM

July 17, 2014

The European Investment Bank (EIB) announced that it has released a 150 million loan to co-finance a major modernization of DÜsseldorf s Rheinbahn light rail network.

As per Rheinbahn, DÜsseldorf s public transport supplier is all set to engage in a four-year upgrade plan.

This loan would finance the acquisition of nearly 40 new high-floor trams, including the renovations of 100 existing B80 and NF6 series trams, as well as the deploy a new Intermodal Transport Control System (ITCS) and construction of Rheinbahn s new Central Traffic Control System site.

As per Dirk Biesenach, Rheinbahn board spokesman, The long-term finance guaranteed by the loan contract will be used both to purchase the necessary rolling stock and extend the local transport network for the benefit of our passengers, It is the biggest loan ever agreed by Rheinbahn. It will cover most of the capital that will be required over the next four years, especially for the investment that will be needed to renew local rail transport.

EIB vice-president Wilhelm Molterer added: Given the size of this area, local public transport is of crucial importance, especially in the metropolitan area of the regional capital of North Rhine-Westphalia.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters