Swedish company AB Transitio has signed a loan agreement of 55.71 million dollars (480 million Swedish crowns) with the European Investment Bank (EIB) for the purchase of new regional trains.
The loan amount will be used to acquire 12 new Electric Double-Decker Multiple Units (EMUs) which will provide regional services with MÃ¤lardalstrafik MÃLAB AB in the Stockholm-MÃ¤laren region.
By replacing aging rolling stock, new trains are expected to offer increased service, reliability, comfort, flexibility and capacity.
They will be owned by Transitio and will be operated by MÃ¤lardalstrafik MÃLAB AB on the regional routes surrounding the Swedish capital.
EIB Vice-President Thomas Ãstros said: âAs the EU’s climate bank, the EIB is investing heavily in alternative modes of transport to get people to leave their cars at home as much as possible.
The new units are expected to provide sustainable transportation to commuters, offering an incentive to move away from road traffic.
Transitio CEO Magnus von Bahr said: âThe acquisition of 12 additional double-decker trains will further increase the capacity of regional services in the Stockholm-MÃ¤laren region and support the mission of increasing train travel.
In addition, the new trains will reduce operating and maintenance expenses for the operator.
Based on the trend observed between 2017 and 2019, the number of commuters is also expected to increase again, giving more reasons to increase train capacity.
AB Transitio buys, finances and administers trains for the Swedish public transport associations, which mutually own Transitio in joint ownership.
Transitio mainly rents trainsets from these regional public transport associations and / or their operators.
In May this year, the EIB signed a $ 182 million (â¬ 150 million) financing contract with the Indian government for the second part of the Pune metro rail project in Maharashtra at a ceremony virtual signature.