View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
July 20, 2016

Hungary’s GySEV to receive €40m loan to support rolling stock upgrade

Hungary-based railway company Gyor-Sopron-Ebenfurti Vasut Zrt (GySEV) will receive a €40m loan from the European Investment Bank (EIB) to purchase new rolling stock and introduce safety improvements.

Hungary-based railway company Gyor-Sopron-Ebenfurti Vasut Zrt (GySEV) will receive a €40m loan from the European Investment Bank (EIB) to purchase new rolling stock and introduce safety improvements.

With this latest financing, the company will be able to provide better quality railway services on the Austrian-Hungarian cross-border railway network along the strategic trans-European transport corridor.

GySEV’s rolling stock acquisition will include nine new locomotives and five electric multiple units. These new vehicles will help expand and renew the existing fleet, replacing any less efficient or less environmentally friendly units.

"GySEV’s rolling stock acquisition will include nine new locomotives and five electric multiple units."

This will help the company address existing transport demands and cater for capacity needs in the future.

The renewal will also reduce vehicle operating costs, road accident losses, pollutants, and greenhouse gas emissions.

EIB's vice-president responsible for lending in Central Europe László Baranyay said: “The EIB loan will help to improve  efficiency of railway infrastructure along a key cross-border axis between Hungary and Austria while strengthening the competitiveness and increasing the attractiveness of a more sustainable means of passenger and freight transport.”

 


Image: From left to right: Ministry for National Economy state secretary Agnes Hornung, Szabolcs Szécely of European Investment Bank, and Gysev CEO Szilárd Kövesdi. Photo: Copyright © 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