3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||25 May 2012|
|Amount in SEK:||SEK 500 million|
|Amount in EUR:||EUR 55 million|
|NACE sector / loan type:||Land transport|
|Business area:||Infrastructure, transportation and telecom|
This loan contributes to climate change mitigation: 100%
The EUR 56 million loan will partly finance Swedish railway operator SJ AB’s purchase of 20 new SJ-3000 high-speed trains from Bombardier Transportation. The new trains are faster than traditional trains and will increase the passenger capacity by 4,900 seats, and also offer upgraded comfort and possibility to work onboard. Due to the increased capacity and the improved service more travellers are expected to choose railway instead of air travel.
The new loan replaces two earlier NIB loans, provided to SJ AB in 2009. The delivery of the trains are set for 2012.
The expansion and upgrading of SJ’s physical capital has a direct impact on the competitiveness of the company and thus railway transport. The high-speed train passenger capacity increases by 4,900 seats, or 44%. Reducing travel time has proven to be one of the main competitiveness enhancers in the business of long-distance transport.
The project replaces traditional style trains and increases capacity at congested routes during rush hours, which can increase SJ’s market share against air and road travel. This would be a significant improvement from an environmental point of view.
The project is forecasted to indirectly result in a decrease of CO2 by transferring passengers from air to railway travel. The new trains consume 14% less energy, mostly due to more efficient return of braking energy to the grid.