30 Jul 2012

IEP discrepancy in figures?

According to Agility Trains, the £4.5 billion package covers the supply of 596 carriages. The Railway Gazette report refers to an "overall package", with "financial close" covering the supply of 369 vehicles, and "commercial close" for a further 227 vehicles for the ECML. So presumably the £4.5 billion is for 596 vehicles, but this is not exactly clear.


  1. £2.4bn for phase 1 which is GWML, financing for ECML in 2013

    Search for "Hitachi secures largest UK train order" Mark Odell and Jim Pickard, financial times or try http://www.ft.com/cms/s/0/b949d9c8-d4f2-11e1-9444-00144feabdc0.html#axzz22U6iUxjJ

    This roughly matches the £2.1bn financing recently got by Hitachi from various japanese banks eg see http://www.bloomberg.com/news/2012-07-25/hitachi-s-u-k-train-venture-said-to-plan-2-1-billion-pound-loan.html "Hitachi’s U.K. Train Venture Said To Plan 2.1 Billion Pound Loan"