The European Investment Bank (EIB) is offering a €340m long-term loan to help fund the Rhine-Ruhr Express (RRX) project in North Rhine-Westphalia, Germany.
The loan will be used to buy 82 new double-deck electric trains offering improved energy-efficiency and capacity, as well as special barrier-free passenger comfort for the RRX project.
Go deeper with GlobalData
RRX is promoted by the four neighbouring transport associations, namely VRR, NWL, NVR and SPNV Nord.
The RRX project includes interconnecting the Rhine-Ruhr region with a six-line network, whose backbone will be the Cologne-Düsseldorf- Duisburg-Essen-Dortmund-Hamm corridor.
Together with EIB, KfW IPEX-Bank and Landesbank Hessen-Thüringen (Helaba) will also provide additional funding of €283m for the project.
EIB president Werner Hoyer said: "With the close cooperation of the four transport associations, the RRX project is a first for North Rhine-Westphalia’s local transport system.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"The Rhine-Ruhr Express represents a key sustainable and customer-focused transport solution for NRW that will be appreciated in the region and beyond."
The RRX project, which will provide modern, energy-saving light trains, will help to improve the quality of local passenger transport in North Rhine-Westphalia.
Earlier this year, Siemens won a contract to build and maintain the new double-deck trains following a Europe-wide procurement process.
