The European Investment Bank has approved a EUR 450 million financing for Trenitalia rolling stock procurement project.
EUR 150 million of the total has already been finalised via the subscription of a corporate bond under FS Italiane’s Euro Medium Term Note programme, concluded by way of private placement, confirming the group’s commitment to sustainable finance.
The EIB funding will support the acquisition of the first 43 trainsets ordered of a total of 135 hybrid trainsets covered by Trenitalia’s investment plan. These first trains are manufactured by Hitachi at its Pistoia, Naples and Reggio Calabria plants. The so-called ‘Rock’ trains, are able to run at speeds of 160 km/h reducing the energy consumption by 30%. The first Rock trainset was unveiled in 2018 and made its inaugural trip in 2019. Trenitalia and Hitachi Rail signed a EUR 3 billion framework agreement for the supply of 300 high capacity regional trains
The new regional trains will have three or four passenger carriages. The trains will be equipped with cutting-edge motors for non-electrified lines, with a pantograph for electrified lines and batteries for the last mile of non-electrified lines, thereby avoiding the use of fuel and the related emissions close to urban centres.
The new trains will enter services on several routes in Italian regions including Calabria, Lazio, Molise, Sardinia, Sicily, Tuscany and Valle d’Aosta.
Trenitalia rolling stock procurement programme has a total value of EUR 960 million and includes the renewal of regional train fleet to be deployed on the lines where electrification is not yet completed. In 2019, the Italian operator has launched a tender for the acquisition of 250 EMUs worth EUR 2.7 billion.
“This major financing continues our investment plan to renew the regional train fleet, which as it stands remains one of our top priorities. We also expect the renewal of Trenitalia’s regional fleet to make it possible to reduce CO2 emissions by 600 million tonnes a year and take 400 000 cars off Italian roads,” FS Italiane Group CEO Gianfranco Battisti said.
Recently, FS Italiane has agreed with three financial institutions a total EUR 800 million financing for Trenitalia train procurement programme.