Luxembourg, 0810/2004 (Agence Europe) - The European Investment Bank (EIB) has agreed to issue a EUR 200 million loan to French railway company, the Société Nationale des Chemins de Fer Français (SNCF) to buy 18 double decker 'Duplex' high speed trains (TGVs) to cope with the increasing passenger numbers using high speed trains in France. This is the second stage in the SNCF's significant TGV expansion programme. In 2002, the SNCF bought 22 double decker trains, which are now all in service.
The new rolling stock will be used on the Paris-Mediterranean line between Paris and Marseilles, currently close to saturation point. The double decker trains can take up to 40% more passenger than traditional trains and make far less noise. The existing rolling stock will be re-assigned to different lines, like the Eastern high speed train line. The new programme will increase high speed passenger capacity in France, but also in Europe (indirectly), contributing to the booming high speed train network.
After an initial loan of EUR 200 million in 2002 for the first step of the SNCF's investment plans, the new loan is a logical follow-up from the EIB to rail transport in France. In partnership with the SNCF and RFF (Réseaux Ferrés de France), the EIB helped finance the high speed Atlantic route, TGV Atlantique, providing EUR 340 million; the TGV Nord-Europe high speed line (EUR 886 million); and the TGV Méditerranée (EUR 618 million). More recently, the EIB has provided EUR 605 million towards the construction of the TGV Est line, for which it foresees total funding of EUR 830 million (around 30% of total project costs). The new loan reaffirms the EIB's commitment to developing the trans-European Transport Networks (TEN-T).