Project Finance for an Intercity Express Programme
First Project Finance Loan by JBIC in the Railway Sector

  • Area: Europe
  • Infrastructures
  • [Project Finance]



JBIC signed a project finance loan agreement with the U.K. company Agility Trains West Limited, a consortium led by Hitachi, Ltd., to fund the Intercity Express Programme (Great Western Main Line). This is one of the major projects of the British government, and is expected to make a significant contribution to the long-term and stable provision of railway services in the U.K.

Project Outline

Project Description Constructing and refurbishing railway depots; lease trains to a franchised train operating company of the Great Western Main Line network; and maintain trains at the depots constructed or refurbished for a period of around 30 years.
Project Company Agility Trains West Limited
Location United Kingdom
Loan Signing July 24, 2012
Sponsors Hitachi Ltd. (Hitachi), John Laing Investments Limited
Related Japanese Companies Hitachi, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Corporate Bank, Ltd., Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Trust and Banking Corporation, and Sumitomo Mitsui Trust Bank, Limited
Total Cofinancing Amount Approx. 2.2 billion pounds sterling
JBIC Loan Amount Approx. 1.0 billion pounds sterling

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