The Nordic Investment Bank and the Latvian state-owned railway infrastructure manager VAS Latvijas Dzelzceļš have signed a new 12-year loan agreement, totalling EUR 22.8 million for the modernisation of locomotives.
“The technological upgrade financed by this loan will let the company increase the productivity of its services and improve its environmental performance”, says Henrik Normann, NIB President & CEO.
The replacement of engines, electric power systems and practically all parts above the wheels on 14 locomotives is expected to prolong their lifetime by 30 years. The improved locomotives will comply with the Euro III A standard.
“The modernisation of diesel locomotives that started in 2015 is one of the most important projects for the Latvijas Dzelzceļš Group of companies. It allows us to improve the rolling stock by increasing its capacity and economic performance, as well as decrease its negative impact on the environment,” Aivars Strakšas, Vice-President of Latvijas Dzelzceļš said.
The modernisation of the locomotives 2M62UM carried out by Latvijas Dzelzceļš’s subsidiary company, LDz Ritošā sastāva serviss, is expected to continue until 2018 with a total of 14 locomotives to be modernised. The modernisation is expected to improve the technical capacity of the upgraded locomotives by 50%, and reduce fuel consumption by 17%. This corresponds to a greenhouse gas emission reduction by almost 15,000 tonnes of CO2 annually. These indicators are expected to improve the economic performance of locomotives which will allow the railway operators and their clients to reduce their costs.
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