The plan to acquire ten high-speed trains is a first step, in the short term, because Turkey announced plans, on the long term, to purchase another 96 high-speed trains.
According to Turkish Treasury, the Islamic Development Bank (IDB) will provide Turkey’s General Directorate of State Railways (TCDD) with a EUR 312 million (USD 367 million) loan to finance „10 High Speed Train Sets Project”. It added the maturity of the loan is 20 years including a 5-year grace period.
In order to support the expansion and modernization of conventional rail network and development of High Speed Train (HST) network in Turkey, Islamic Development Bank approved the loan for an additional 10-high speed trains to be deployed on Ankara-İstanbul high speed line.
According to TCDD, the rest of the 96 high speed trainsets will be procured in the scope of SIP Model by tender (Industrial Cooperation Program).
– The first 20 high speed trainsets will be produced directly in the facilities of the contractor.
– 60 of these trainsets will be produced through technology transfer and 53% of localisation rate.
– The last 16 trainsets will be produced in a factory to be established in Turkey with a minimum 74% localisation rate through technology transfer within the scope of National Train Project.
At the same date, another loan agreement worth USD 200 million was signed between the Development Bank of Turkey and IDB under the Turkish Treasury guarantee with same conditions.
Turkey’s Undersecretariat of Treasury said that the second loan will be used in the financing of the „Clean Energy and Energy Infrastructure Program.”
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