EIB continues to support modernisation of Polish railways
Posted: 24 October 2012 | | No comments yet
The EIB is providing two loans amounting to EUR 165 million to the Polish Railway Company PKP…
The European Investment Bank (EIB) is providing two loans amounting to EUR 165 million to the Polish Railway Company PKP:
- EUR 100 million to finance the upgrading of 58 km of railways and signalling enhancement on a 42 km section between Warsaw and Lodz;
- EUR 65 million to support the modernisation of a 32 km-long section of the E59 railway line connecting Wroclaw and Poznan
The loan of EUR 100 million will finance the modernisation of 58 km of twin track line between Warszawa Zachodnia and Miedniewice to the speed of 160 km/h, and installation of signalling equipment on a 42 km section of the already improved line between Miedniewice and Lodz Widzew. The upgrading of the line between Miedniewice and Lodz Widzew to the speed of 160 km/h was already accomplished in 2008.
The loan of EUR 65 million will contribute to the upgrading of a 32 km-long section of the twin track railway line from Poznan to Czempin in the South-West of Poland, which is part of the E59 European Rail Corridor connecting Malmo in Sweden with Ostrava in the Czech Republic through Poland via Szczecin, Poznan, Wroclaw and Chalupki.
The modernised line will make it possible to use trains operating at a maximum speed of 160 km/h. This section forms the second part of the planned modernisation of the 164 km of the E59 between Wroclaw and Poznan, which is expected to be completed by 2016.
Mr Anton Rop, EIB Vice-President responsible for operations in Poland, commented: “The EIB funds will help to upgrade the railway lines along the key transport corridors in Poland, contributing to an increase of transport safety and speed and improving the environment by promoting environmentally friendly modes of transport”.
The current loans are a continuation of the EIB’s successful cooperation with PKP Polskie Linie Kolejowe S.A. Including the current loans, the Bank has provided loans to PLK totalling EUR 1.4 billion to finance railway modernisation projects across Poland.
Background:
The European Investment Bank (EIB) is the long-term lending institution of the European Union and is owned by the EU Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
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