View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
December 19, 2016

EIB issues loan for PKP Polskie’s €611m Rail Baltica project

The European Investment Bank (EIB) has provided a €175m loan to Polish railway company PKP Polskie Linie Kolejowe for refurbishment of more than 100km of track within the PLN2.7bn (€611m) Rail Baltica project.

The European Investment Bank (EIB) has provided a €175m loan to Polish railway company PKP Polskie Linie Kolejowe for refurbishment of more than 100km of track within the PLN2.7bn (€611m) Rail Baltica project.

The project is part of the North Sea-Baltic Core Network Corridor and will make it possible to increase the number of rail connections, as well as improve safety.

EIB vice-president Vazil Hudák said: “This is a project with a European dimension and a strong climate action focus.

“We welcome this agreement with PKP Polskie Linie Kolejowe because it will result in better quality and higher use of passenger rail services and freight transport in Poland, generating significant energy savings and reductions in harmful emissions.”

EIB’s loan will be used to modernise the Sadowne to Czyzew and Czyzew to Bialystok sections enabling passengers to get easy inter-regional connections.

Rail Baltica connects the Baltic States with Poland and other countries in the European Union (EU).

"It will result in better quality and higher use of passenger rail services and freight transport in Poland."

PKP Polskie Linie Kolejowe CEO Ireneusz Merchel said: “PKP Polish Railway Lines is using funds borrowed from the EIB to improve travel comfort for passengers and the efficiency of freight transport, within, inter alia, the Rail Baltica project, which is an important trans-European transport corridor.

“PKP Polskie Linie Kolejowe implements the National Railway Programme, worth more than PLN66bn (€14.9bn), which will significantly improve the transport system and strengthen the competitiveness of rail.”

As part of the works on the two sections, 106km of railway line will be modernised and a new double-track bridge over the Bug River will be constructed, in addition to an extra track on the Prostyn Bug – Malkinia section.

The investment is also expected to improve operating conditions for freight railway.


Image: Plk E75 Rail Baltica Sadowne Bialystok. Photo: courtesy of European Investment Bank.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The railway industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Railway Technology