French multinational rolling stock manufacturer Alstom has completed a framework contract with Northrail for 50 multi-system Traxx Universal locomotives, with a full-service maintenance package for up to 16 years.
Northrail, headquartered in Hamburg, Germany, is a rolling stock lessor and asset manager across Europe, which manages a portfolio of around 440 locomotives, multiple unit trains, and passenger coaches for freight and passenger transport.
The investment was arranged and structured by Northrail for the Paris-based infrastructure investment company RIVE Private Investment (RIVE). Northrail will act as the asset manager and lessor of the locomotives on behalf of RIVE.
The base order is for 15 Traxx Universal multi-system locomotives and eight years of full-service maintenance. The maximum contract value is €370m.
Production will take place at the Alstom site in Kassel, Germany, and is scheduled to start in 2025.
“The Traxx locomotives are an innovative investment in the future of rail transport,” said Müslüm Yakisan, president of the DACH Region at Alstom.
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“Given the long-term maintenance agreement, Northrail will also benefit from optimized and plannable life cycle costs as well as maximum availability of the locomotives.”
All locomotives will be equipped with ATLAS, Alstom’s onboard solution for the European Train Control System (ETCS).
“With this innovative new multi-system locomotive, we are very pleased to again be a first mover in the locomotive leasing industry,” said Michael Trentzsch, Northrail executive board member.
“We very much look forward to receiving the first locomotive in 2025 and therewith further fostering our relationship with Alstom.”
Founded in 2013, RIVE is an independent investment group specialising in sustainable infrastructure and tangible assets. To date, it has financed €2.3bn of assets through over 100 transactions.