The European Investment Bank (EIB) has under appraisal the high-speed train procurement project implemented by Kevin Speed, a French open access rail operator. The proposed EIB finance is around EUR 400 million while the total estimated value of the analysed procurement is EUR 1 billion.
The EIB finance will support the purchase of 20 new high-speed trainsets by the new operator to launch commercial services in France as well as the construction of three maintenance depots.
The trains will be operated on open access basis on the three corridors from Paris to Lyon, Lille and Strasbourg with an all stop, and high-frequency offer agreed with the infrastructure manager within a long term track access framework agreement.
The project supports the liberalisation of passenger railway services and the expansion of the high-speed rail markets in France, thereby promoting a single rail market as well as modal shift from road and air to rail and sustainable transport in line with EU objectives. It also produces agglomeration economies, additional to the benefits accruing to transport users. The launch of new high speed services supports the development of competition in a sector with high barriers to entry.
The French open access rail operator, founded in 2021, signed a framework agreement with SNCF Réseau to launch its first ilisto services from 2028. The operator intends to provide low cost high-speed rail services connecting rural areas with major French cities beginning with three services between Paris and Lille, Strasbourg and Lyon.
The 10-year track access framework agreement with SNCF Réseau means the operator will acquire its 20 7-car high-speed trains from Alstom with a capacity of up to 760 seated passengers. The trains are expected to begin trials in 2026.
Kevin Speed intends to change the way people travel and will provide journeys starting at EUR 3 for a 100 km trip during off-peak hours. The operator has developed an app that will keep passengers up to date with their usage and will ensure them that can stick to a sensible monthly budget.
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