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.
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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.
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.”
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By GlobalData
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.
