Project Financing for an Intercity Express Programme
Supporting the participation of a Japanese company in an overseas railway project through British pound sterling loan

  • Area: Europe
  • Infrastructures
  • [Project Finance]

JBIC concluded a project finance loan agreement with Britain-based Agility Trains East Limited (ATEL), in which Hitachi, Ltd. (Hitachi) has a stake, to fund the East Coast Main Line segment of the Intercity Express Programme (the "Programme") in the UK. This financing will provide funds in pound sterling currency necessary for ATEL, established by Hitachi and a Britain-based company, which invests in public infrastructure, to purchase rail cars, develop railway depots to maintain the cars, and to lease the train cars and provide maintenance services to the train operator for a period of about 30 years. This loan, by which JBIC provides support to the segment integrally with Phase 1*1 of the Programme, positioned as one of the highest-priority projects by the British government, is expected to contribute to strengthening economic ties between Japan and the UK.
  1. *1For Phase 1, JBIC concluded a project finance loan agreement for the Great Western Main Line in July 2012.
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