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Czech trains to be upgraded with €300 million EIB loan to national railway operator
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PRESS RELEASE
2024-404-EN
Prague, Czech Republic, 30th October 2024
Czech trains to be upgraded with €300 million EIB loan to national railway operator
The European Investment Bank (EIB) is lending CZK 7.61 billion Czech korunas (€300 million) to the Czech Republic’s national railway operator, ?eské dráhy, to buy new train carriages and locomotives as well as upgrade existing ones. ?eské dráhy will use the loan to purchase 180 passenger coaches and 20 electric locomotives. The company will also retrofit 219 existing coaches and locomotives with modern technology known as the European Rail Traffic Management System (ERTMS). The improvements, due to be completed by the end of 2028, will benefit Czech cohesion regions and cross-border connections.
“This financing exemplifies our unwavering commitment to sustainable transport,” said EIB Vice-President Kyriacos Kakouris. “By modernising the rolling stock of ?eské dráhy, we are not only enhancing the safety and efficiency of rail services but also advancing the EU’s climate-action goals.”
The loan builds on years of EIB- ?eské dráhy cooperation to upgrade infrastructure and rolling stock. Last year alone, the EIB committed €880 million to Czech rail projects.
“The funds from the European Investment Bank help us to invest into the modernisation of our rolling stock. We are using the funds obtained in this way primarily for improvement of the quality of long-distance trains, including the acquisition of the most modern ComfortJet trainsets, which will run on the lines interconnecting Prague with Germany, Austria, Slovakia or Hungary, as well as for equipment of other vehicles with the on-board part of the European Train Control System (ETCS). Thanks to these investments, we will offer our passengers more comfortable, more convenient, and safer trains and we will further strengthen the competitive edge of the modern and environment-friendly railway transport,” said Lukáš Svoboda, Member of the Board of Directors and Deputy Director General of ?D for Economics and Purchasing.
The new and retrofitted rolling stock will improve service reliability, shorten journey times, and lower maintenance costs.
The use of ERTMS will enhance safety and interoperability across the European rail network. The fleet to be retrofitted with ERTMS is expected to be operated for regional and long-distance connections under public-service contracts mainly in the Czech Republic and to a limited extent in neighbouring countries.
The environmental benefits include reductions in emissions and energy consumption, contributing to the EU’s climate action goals. The project will also support economic and social cohesion by improving mobility for people primarily in the country’s less-developed regions and by strengthening connections to other EU countries.
Furthermore, the initiative is projected to create around 160 permanent jobs, primarily for train drivers, accompanying staff and maintenance personnel.
The EIB loan complements grants under the Connecting Europe Facility (CEF). The CEF is a key EU funding instrument designed to promote growth, jobs, and competitiveness through targeted infrastructure investments.
Background information
About the EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union. It finances sound investments that contribute to EU policy goals and works closely with other EU institutions to advance shared policy priorities, such as equitable growth and a just transition to climate neutrality. In 2023 alone, the EIB Group provided €1.88 billion for Czech projects. We are significantly investing in the rail sector, with close to €1 billion dedicated to rail projects last year. Since its inception, the EIB has provided substantial financing to the Czech Republic, contributing to the development of its infrastructure and economy.
About ?eské dráhy, a.s.
The joint stock company “?eské dráhy” plays the role of the national carrier in the Czech Republic and on the basis of orders from the state and regions it ensures basic transport services for the state. During recent years it was possible to register a significant rejuvenation of the rolling stock, in both regional and long-distance transport sectors. In its effort of making railway transport more attractive and increasing its competitiveness on the open market the firm has invested dozens of billions of Czech crowns in purchases and modernisation of vehicles.
Press contacts
?eské dráhy
Website: www.cd.cz
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