£160 million rolling stock order placed for Midland Mainline
National Express Group PLC ("NEX") today announces it has signed a £160 million order with Bombardier Transportation for the manufacture and supply of new rolling stock for its Midland Mainline ("MML") franchise.
The new fleet, which will be financed by way of operating lease through HSBC Rail, will be fully in service by 31st January 2005. The order has been placed as part of MML's two year franchise extension, awarded in August 2000 by the Strategic Rail Authority, which takes the franchise to 2008.
The twenty-three trains consisting of 127 carriages will double capacity on the service where passenger growth of over 50% has been achieved since privatisation. The new fleet will be called "Meridian" and will replace the current Turbostar fleet by January 2005. The new units will run alongside MML's existing fleet of 13 high speed trains, which will undergo complete refurbishment during the next two years.
The trains, which will be built by Bombardier at their plants in Wakefield in Yorkshire and Brugge in Belgium, will create an additional 130 jobs at MML. The new rolling stock will incorporate:
Commenting on the order, Ian Buchan, Chief Executive of the NEX Trains Division said:
"We are delighted that as part of our franchise agreement we can now confirm that this new fleet of trains is in the pipeline. The quality of the service that MML can provide to customers will be greatly enhanced by this development."
Richard Bowker, Chairman of the SRA, said:
"Launching the SRA's Strategic Plan last month, I said that there is real enthusiasm from the private sector to invest in the railways. Today's announcement confirms this commitment, and is great news for travellers on this vital route between London, the Midlands and Yorkshire".
| Nicola Marsden | |
| National Express Group PLC | 020 7529 2000 |
| Andrew Dowler/Ben Foster | |
| Financial Dynamics | 020 7831 3113 |
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