11 Jun 2010

NIB finances new trains for Transitio

NIB and the Swedish AB Transitio have signed a loan agreement totalling EUR 124 million to finance the purchase of 35 new trains. The new trains will be used by the Regional Public Transport Authorities (PTAs) in Sweden.
 
The new regional trains will shorten the travel time between cities and increase the number of departures. The new electric trains use less energy than the older models mainly due to their lower air resistance and better recovery of electricity from brake energy. The new diesel trains will reduce emissions by about 80% compared to the older models.
 
“Developing eco-friendly transport is an important step towards achieving lower carbon emissions. By investing in more efficient railway services, more passengers will see this form of green transport as an increasingly attractive option,” says Johnny Åkerholm, NIB’s President and CEO.
 
Railway transportation causes considerably lower emissions per person-km in comparison with air and road travel.
 
AB Transitio, founded in 1999, is a Swedish private limited liability company, owned by regional PTAs and county councils. Transitio does not operate any of the rolling stock itself. The operators are normally contracted by the regional PTAs, which are responsible for public transportation in several regions in Sweden. Transitio’s main business is to coordinate the PTA’s procurement of rolling stock, and it aims to standardise these vehicles in order for them to be used by several PTAs.

NIB is a multilateral 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:
 
Ulf Westergård, Senior Manager, tel. +358 10 618 0234,

Nina Monsen, Communications Specialist, tel. +358 10 618 0291,