24 Aug 2015

NIB finances upgrade of SJ X2000 trains in Sweden

SJ X2000 train. Photo: Stefan Nilsson - SJ

NIB and the Swedish passenger train operator SJ AB have agreed on a SEK 770 million (EUR 81 million) loan for the technological upgrade of X2000 trains.

The 10-year loan will finance the modernisation of 36 train sets of this type taken into use twenty years ago. The project is expected be completed by 2019. The upgrade of SJ’s rolling stock is likely to result in improved productivity and service quality, shorter travel times and increased security, as well as more efficient use of energy.

“Making travelling by train more attractive will eventually help reduce the segments of less environment-friendly means of passenger transport, particularly air travel and cars. This makes this project eligible for a loan from NIB”, says Henrik Normann, NIB President & CEO.

It is expected that travel by train between Stockholm and Gothenburg/Malmö, the routes the X2000 trains operate on, will keep increasing at an annual growth rate of about 5–6 per cent in the coming years. Travellers frequently indicate environmental concerns and comfort as the main reasons for choosing trains over air travel or cars, with travel time being almost as important.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Tore Emanuelsson, Senior Manager Origination, at +358 10 618 0244,

Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,