The European Investment Bank (EIB), KfW IPEX-Bank and NORD/LB announced a total EUR 189 million financing for Chemnitz tram-train procurement implemented by the public transport authority Verkehrsverbund Mittelsachsen (VMS).
The EIB’s share of this is EUR 89 million. The consortium leader KfW IPEX-Bank and the account-holding bank NORD/LB will each provide EUR 50 million.
EUR 234.5 million is the total value of the project which includes the financing, procurement and maintenance of the fleet. In March VMS and Stadler signed the contract for the supply of 19 electric regional tram-trains which also includes an option for up to 27 additional three-section bidirectional vehicles for Chemnitz Bahn network. They can run on electric tram networks in cities as well as electric railway networks, providing a better link to the Chemnitz inner-city network from the surrounding region, where residents will benefit from faster and more direct connections.
In addition, there are plans to build a new maintenance depot near Chemnitz central station for servicing the new trams and older public transport vehicles. The financing provided by the institutions also includes the refinancing of a railway depot built in 2016 for the maintenance of 29 rail vehicles used on the Mittelsachsen electric railway network. Starting in summer 2023, 11 battery electric multiple units for the Chemnitz-Leipzig line will also be serviced at the depot.
The trains will be delivered from 2025 and are expected to enter transport services in 2026.
The Chemnitz tram-train procurement project is an integral part of the Chemnitz model, one of the most important public transport projects in Saxony. The aim of this model is to provide a smooth connection between the centre of Chemnitz and the surrounding areas. These investments will modernise the entire public transport system and improve the quality of public transport services.
“We are pleased to be co-financing another flagship project for the transport transition in Germany with our long-standing and valued partner VMS and our other consortium partners. This is also another good example of the mobility owner concept that we are promoting, in which the separate operation and ownership of vehicles can have a number of advantages for municipalities,” Andreas Ufer, member of the Management Board of KfW IPEX-Bank, said.
The project therefore directly contributes to the transport transition and climate action. “Attractive tram networks foster the transition to climate-friendly mobility by encouraging commuters to switch from road to rail, thus avoiding the CO2 emissions and congestion caused by the use of private transport,” the EIB Vice-President Ambroise Fayolle said.
The new tram-trains will expand authority’s fleet and maintenance capacity and will deliver passengers increased comfort and capacity. 5.3 million passengers are expected in the first year of operation.
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