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July 19, 2015

EIB provides €340m loan for Rhine-Ruhr Express project in Germany

The European Investment Bank (EIB) is offering a €340m long-term loan to help fund the Rhine-Ruhr Express (RRX) project in North Rhine-Westphalia, Germany.

The European Investment Bank (EIB) is offering a €340m long-term loan to help fund the Rhine-Ruhr Express (RRX) project in North Rhine-Westphalia, Germany.

The loan will be used to buy 82 new double-deck electric trains offering improved energy-efficiency and capacity, as well as special barrier-free passenger comfort for the RRX project.

RRX is promoted by the four neighbouring transport associations, namely VRR, NWL, NVR and SPNV Nord.

"The Rhine-Ruhr Express represents a key sustainable and customer-focused transport solution for NRW that will be appreciated in the region and beyond."

The RRX project includes interconnecting the Rhine-Ruhr region with a six-line network, whose backbone will be the Cologne-Düsseldorf- Duisburg-Essen-Dortmund-Hamm corridor.

Together with EIB, KfW IPEX-Bank and Landesbank Hessen-Thüringen (Helaba) will also provide additional funding of €283m for the project.

EIB president Werner Hoyer said: "With the close cooperation of the four transport associations, the RRX project is a first for North Rhine-Westphalia’s local transport system.

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"The Rhine-Ruhr Express represents a key sustainable and customer-focused transport solution for NRW that will be appreciated in the region and beyond."

The RRX project, which will provide modern, energy-saving light trains, will help to improve the quality of local passenger transport in North Rhine-Westphalia.

Earlier this year, Siemens won a contract to build and maintain the new double-deck trains following a Europe-wide procurement process.

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