3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||29 Jan 2010|
|Customer:||Green Cargo AB|
|Amount in EUR:||EUR 29.9 million|
|NACE sector / loan type:||Land transport|
|Business area:||Infrastructure, transportation and telecom|
This loan contributes to climate change mitigation: 50%
The five-year maturity loan totalling EUR 30 million has been provided for financing the upgrade of a quarter of all Green Cargo's locomotives. The project will reduce the locomotives' fuel consumption and increase their working life by approximately 20 years at just one-third of the cost of comparable new locomotives. The overhaul will also improve the drivers' working environment.
The renovation will strengthen Green Cargo's position and make railway transport more competitive. While Green Cargo is the largest among the very few service providers in the sector, market demand for new, high quality products is increasing and competition for tracks is growing. The project will also help secure access to a reliable railway cargo service, to the benefit of the business community and region.
Founded in 2001, Green Cargo is a national and international logistics company, wholly owned by the Swedish state. The company has some 3,000 employees and a rail network that covers Sweden and parts of Norway. Other parts of Europe are reached through partners. More than 90% of the goods it transports are carried on electrically powered trains.
The 42 electrically powered locomotives will get new steering systems and modernised cabin interiors. The engines of the 62 diesel locomotives will be replaced which will lead to a decrease in emissions of NOx and particles. Due to improved energy efficiency, emissions of carbon dioxide are expected to decrease by some 20%.