Long-term loan agreement for Helsinki trams

Photo: shutterstock.com.

Helsinki City Transport (HKL) has signed a long-term loan agreement with the Nordic Investment Bank (NIB) to procure 40 new trams for the city.

The loan will help finance the new fleet, which is being supplied by Transtech, as part of the municipal investment programme.

The new low-floor trams will offer 50 per cent more capacity than the older vehicles of the fleet and will be more energy efficient, HKL has said.

Ville Lehmuskoski, HKL president and chief executive, said: “Long-term financing is essential for the implementation of competitive public transport projects.

“The loan from NIB secures the acquisition of the Artic trams for Helsinki, which are designed for the challenging Finnish conditions, and are excellent with regards to noise levels and maintenance requirements.”