Sweden. Transitio AB
| Date of agreement: | 09 Jun 2020 |
|---|---|
| Country: | Sweden |
| Customer: | Transitio AB |
| Amount in SEK: | SEK 210 million |
| Amount in EUR: | EUR 20.2 million |
| Maturity: | 30 years |
| NACE sector / loan type: | Transport via railways |
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Clean transport solutions
Amount disbursed: EUR 20.2 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
Project
The loan has been provided for financing the acquisition of twelve new commuter trains. The new trains were ordered by Mälardalstrafik AB (MÄLAB) and will be leased to the regions of Stockholm, Uppsala, Västmanland and Östergötland.
The trains will each have 333 seats, wifi and space for bicycle transportation. The new rolling stock is expected to increase the frequency of departure and reduce travel time. The aim of the investment is to improve the service quality and to encourage travellers to move from road to rail.
The trains will be distribute as follows: region Stockholm 3 trains, region Uppsala 2 trains, region Västmanland 4 trains and region Östergötland 3 trains.
The delivery of the new rolling stock will take place during 2021–2022.
Mälardalstrafik AB is a railway company jointly owned by the regional transport authorities of Mälardalen (Mälaren valley), which includes the regions of Stockholm, Sörmland, Uppsala, Västmanland, Örebro and Östergötland. Its mission is to manage and develop regional rail commuting traffic.
Transitio AB is owned by 20 Swedish regions, which are acting as public transport authorities. The company coordinates procurement and fleet-management of rolling stock.
Fulfilment of NIB's mandate
Productivity:
The investment in new trains is expected to increase departure frequency and reduce travel times for passengers, making rail commuting a more attractive option. The Mälardalen region has a high proportion of commuters, as 40% of the Swedish population live the area. The demand for public transport is likely to increase steadily in the coming decades as the region’s population is growing continuously. The investment in increasing mobility is expected to have a positive impact on the labour market, as it will enhance human, social and economic interaction, which is especially important for the future development of the counties’ peripheral areas.
Environment:
The improvement of railway services is expected to allow commuters to choose public transport over their private cars and thereby to alleviate road traffic congestion.
Indicators for the expected impact of the investment:
– Increased vehicle kilometres
– Increased number of passengers
– Development of annual number of passengers at the 6 lines on which the new trains will operate
Sustainability summary
No significant potential for negative environmental impact has been identified in connection to the project.
