PKP Cargo secures EIB funding

PKP Cargo rolling stock modernisationThe European Investment Bank has signed a EUR 60 million loan agreement for PKP Cargo rolling stock modernisation project.

Based on this loan, the company can finance and refinance the development plan, with an available investment of EUR 200 million.

Last year, the company has signed several contracts with manufactures.

In September, a EUR 113.5 million contract was signed with Newag for the procurement of 31 Dragon 2 six-axle locomotives. The manufacturer will deliver7 electric locomotives equipped with diesel access modules and 24 new dual-voltage locomotives equipped with three different power systems. In 2022, PKP Cargo should receive all the new locomotives which will also operate in the Czech Republic and Slovakia.

At the beginning of 2019, the Polish rail freight operator has ordered from Siemens Mobility 5 additional Vectron MS locomotives under a EUR 24.5 million contract which also includes maintenance services. The contract was part of a framework agreement signed in 2015 for 15 Vectron MS locomotives which included the exercised option. The locomotives are used on north- south corridor. They run at a top speed of 160 km/h and equipped with an ETCS. PKP Cargo has a fleet of more than 20 Vectron locomotives.

PKP Cargo rolling stock modernisation plan also included a EUR 80.6 million contract signed with Tatravagónka for 936 flat cars. During this year, the manufacturer will have to deliver 400 cars, 298 flat cars next year, with the last 188 flat cars in 2022.

The Polish railway operator intends to acquire new 220 intermodal flat cars to meet the transport demand.

To modernise and develop its fleet, PKP Cargo, the Industrial Development Agency (ARD) and Wagonami Świdnica, a rolling stock manufacturer owned by Greenbrier, agreed on joint production and repair services of operator’s freight wagons. The companies opted for several plants’ development, including the Gniewczyna Wagon Factory, the companies would start production this year, according to the initial plans.


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