Nordic Investment Bank (nib) and Swedish company AB Transitio have signed a Skr695m (€73m) loan agreement for 20 years to finance the acquisition of 33 new passenger trains in central Sweden.

To be used on four different railway lines in Mälardalen, Sweden, the new double-decker trains will be delivered from 2019.

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The project is expected to cost Skr3.5bn ($408m) in 2016-22.

The population in Mälardalen, which accounts for a third of the country’s population, is increasing and the demand for public transport is also set to rise.

In order to meet this demand, the public transport authorities in Mälardalen and the regional passenger railway traffic operator Mälardalstrafik decided to acquire these trains.

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The trains will be acquired by and rented through Transitio, while they would be supplied by Swiss Stadler.

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"A larger regional traffic capacity will help increase the mobility of labour and stimulate further cohesion in the region."

Under the agreement signed by Transitio, more trains can be acquired for the extension of traffic to other railway lines.

With the latest investment programme, the number of departures can be increased by 30% and the number of passenger seats by 3,000.

NIB president and CEO Henrik Normann said: “A larger regional traffic capacity will help increase the mobility of labour and stimulate further cohesion in the region.

“We hope that the loan from NIB will have a positive impact on the country’s overall competitiveness.”

Transitio coordinates the procurement and financing of rolling stock for public transport authorities.

Image: The new double-decker trains will be used on four different railway lines in Mälardalen, Sweden. Photo: courtesy of NIB.