Polish PKP Cargo S.A. received €47 million loan from EIB to upgrade its rail fleet in Poland

Warsaw, Poland, Luxembourg, 05-12-2013 — /EuropaWire/ — The European Investment Bank (EIB) is lending PLN 200 million (EUR 47 million) to PKP Cargo S.A. for the upgrading of the rail fleet in Poland. The Bank has now supported rail investments in Poland for 23 years, promoting the improvement of both infrastructure and rolling stock.

Thanks to this EIB loan, PKP Cargo will upgrade its fleet by purchasing and modernising locomotives and wagons. The acquisition of new rolling stock is part of the company’s investment programme for the forthcoming three years.

The EIB strongly promotes sustainable and environmentally friendly transport solutions. By providing new and modernised rolling stock, the project will increase the quality of freight rail services in Poland. The new fleet will enable more efficient operation, reduce maintenance costs and lower energy consumption. This should help railways compete with other modes, particularly road, so as to maintain or improve its modal share. Shifting freight flows from other modes to rail will result in reduced vehicle operation costs and safety and environmental benefits. New vehicles will replace the ageing fleet and modernised diesel locomotiveswill consume less fuel and oil as well as operating with less noise and vibration.

The Bank’s support provides high financial value added to PKP Cargo by making available long-term funds at favourable rates.

Background information

The EIB is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Press contact

Alicja Chytla, a.chytla@eib.org, tel.: +352-4379-88233

Website www.eib.org/press – Press Office: +352 4379 21000 – press@eib.org