The European Investment Bank (EIB) has signed a €45 million ($51 million) agreement with Medway ROSCO, a subsidiary of the Iberian Peninsula’s largest private rail-freight operator, to support the expansion of rail freight-transport services in Portugal and Spain.
The EIB financing will enable Medway OFM to expand its fleet through Medway ROSCO’s acquisition of 16 electric locomotives and 113 intermodal wagons, contributing to the expansion of rail freight-transport services and enabling a modal shift from road to rail.
The project also supports the development of electric rail transport and will facilitate cross-border traffic as well as inter-modality, improving the effectiveness of freight-transport chains. The new locomotives will provide additional capacity of about 1.5 billion tons per kilometer (tkm) for new services that could include the transport of lithium, wood, chemicals and other products as well as new regular container lines from the port of Sines
