NIB provides long-term loan for new trams and metro cars in Helsinki
(Thomson Reuters ONE) - The Nordic Investment Bank (NIB) will provide the City of Helsinkiwith a long-term loan of EUR 50 million for financing investments innew low-floor trams and metro cars.The City of Helsinki is aiming at further increasing tram traffic andother means of public transport in the coming years. The city willpurchase 40 new trams, which will partly replace trams from the1970s. The passenger capacity will increase by 15%.The metro network will be expanded westward to Espoo, the secondlargest city of Finland. The extended metro line will comprise some14 km of tracks and seven stations, for which 48 metro cars will beneeded. The capacity of the underground service in terms of passengerseats will increase by some 40%. The new cars will be fullyautomated.The City of Helsinki seeks to ensure a high quality of service in itspublic transport and aims at strengthening the status of publictransport by emphasising investments in rail transport. Railtransport is fast, convenient and, compared to cars, is anenvironment-friendly way of travelling.The added value of NIB's loan to the City of Helsinki is its verylong-term financing of 30 years. It allows the city to develop itsrail transport in the long run, as well as keep the public transporttariffs at a moderate level. The long maturity of the loan is areflection of the expected life time of the new vehicles, which is 40years."This loan demonstrates NIB's added value for cities andmunicipalities, which in the current economic situation may find itchallenging to obtain long-term funding. Moreover, it is a goodopportunity for the Bank to enhance environment-friendly means oftransport," says Johnny ÿkerholm, President and CEO of NIB.The value of the city's investment programme for rail transportationamounts to EUR 143 million. The trams and metro cars are expected tobe taken into use in 2013 to 2015.NIB is a multilateral financial institution owned by eight membercountries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania,Norway and Sweden. The Bank finances private and public projects inand outside the member countries. NIB has the highest possible creditrating, AAA/Aaa, with the leading rating agencies Standard & Poor'sand Moody's.For further information, please contactNIBMr Lars Selenius, Senior Director, Lending, at +358 10 618 0502,lars.selenius(at)nib.intMr Kim Krokfors, Senior Manager, Lending, at +358 10 618 0517,kim.krokfors(at)nib.intCity of HelsinkiMr Matti Lahdenranta, Managing Director, Helsinki City Transport at+358 9 310 35091Ms Eija Venetkoski-Kukka, Senior Manager, Finance, Economic andPlanning Centre, at +358 9 310 36329This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 02.09.2009 - 10:02 Uhr
Sprache: Deutsch
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