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    New trains to improve Munich commutes

    Acquisition of about 90 new high capacity trains for S-Bahn Muenchen to replace life-expired vehicles, in support of an ongoing public transport capacity extension programme.

    First signature
    EUR 1,159,236,051.93
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    € 1,159,236,051.93
    Germany : € 1,159,236,051.93
    Transport : € 1,159,236,051.93
    Signature date(s)
    30/06/2023 : € 153,538,484.62
    30/06/2023 : € 155,385,484.41
    30/06/2023 : € 156,779,680.68
    30/06/2023 : € 157,941,219.19
    30/06/2023 : € 159,263,567.15
    30/06/2023 : € 165,457,618.25
    30/06/2023 : € 210,869,997.63
    Link to source

    Summary sheet

    Release date
    27 November 2020
    Signed | 30/06/2023
    Project name
    Promoter - financial intermediary
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 1380 million
    EUR 2800 million

    Acquisition of about 110 new high capacity electric multiple units (EMUs) for S-Bahn Muenchen to replace life-expired vehicles, in support of an ongoing public transport capacity extension programme.

    The project consists of the financing of the acquisition of new rolling stock (electric multiple units, or EMUs) estimated at about 110 vehicles and associated equipment for a public service contract to operate the rail passenger services on the S-Bahn network of Munich, Bavaria. The new fleet will complement the service improvements enabled by significant infrastructure works, in particular the enhancement of the tunnel through the city centre and the refurbishment of five sizeable stations. Together, these will allow increasing the service frequency and train length.

    Environmental aspects

    The investment proposed under the project does not fall under either Annex I or Annex II of the Environmental Impact Assessment Directive 2011/92/EU (as amended by Directive 2014/52/EU) as manufacturing and use of rail rolling stock is not included in either list. The need for an environmental impact assessment (EIA) and/or assessment according to the Habitats Directive 92/43/EEC for associated facilities (e.g. maintenance workshops or depots), not included in the investment proposed but needed for the correct operation of the new rolling stock, will be analysed during the appraisal. Arrangements for the replacement or decommissioning of old rolling stock will be reviewed during appraisal. All else equal, the project is expected to have a positive environmental impact by contributing to modal shift from road to railways.

    The Bank will require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, 2014/25/EU as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

    Link to source


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).


    Environmental and Social Data Sheet (ESDS) - GERMAN ROLLING STOCK - S-BAHN MUENCHEN
    Publication Date
    6 Jan 2021
    Document language
    Main Topic
    Document Number
    Document Focus
    Environmental Information
    Project Number
    Publicly available
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    News & Stories

    Inside the project

    How and Why

    Ease congestion, cut emissions


    • Munich’s regional rail network is prone to delays because of congested infrastructure
    • The energy-efficient electric trains will cut CO2 emissions and convince more commuters to take the train instead of their cars


    • The new trains have extra-wide doors to make getting on and off easier and faster
    • New 200-metre-long trains will improve reliability and passenger comfort

    Sectors & Countries


    More comfortable, more reliable and greener commuting

    • 90 new, energy-efficient electric trains will offer commuters greater comfort and reliability



    Innovative leasing facility financed by the EIB and UniCredit with a guarantee from the Free State of Bavaria.

    Play video




    New trains, new lines, new technology


    new electric trains

    Like two-thirds of all regional train passengers in Bavaria, Christine often takes the Munich S-Bahn, the regional train network of Germany’s third-largest city. The journey from her home in Pasing, just 10 km from Marienplatz in the city centre, however, can be unpredictable. “It’s very crowded and there are a lot of delays,” she says. “Normally it should only take 20 to 25 minutes, but sometimes it can take me up to an hour.”

    Christine is not alone. Across Germany almost one in three rail passengers reached their destination with a delay of 15 minutes or more in 2022. The S-Bahn Munich rail network is prone to delays, because every S-Bahn train entering or leaving central Munich has to pass through a single trunk line, the Stammstrecke, one of the busiest in all Europe. This leaves the network susceptible to bottlenecks and delays. Work is underway on a second trunk line. Though it will take years to complete, recently ordered new generation trains promise some quick improvements.

    Acquired through an innovative €2 billion leasing arrangement financed by the European Investment Bank and UniCredit with a guarantee from the Free State of Bavaria, the new 200-metre trains, which are the same length as Germany’s high capacity InterCity trains, will be the longest regional trains in the country. Highly energy efficient, the 90 new electric trains, built by Siemens Mobility, will feature extra-wide doors for easy and faster access and an LED information strip running the length of the train. The trains also provide information to the passengers about the occupancy of each carriage and where along the train they should head for more space. These innovative trains were developed specifically for the Munich regional passenger transport network.

    The investment in Bavaria is part of a wider effort by Germany’s federal government to improve rail services and cut CO2 emissions by shifting more traffic from roads to rail. In September 2023, the German government announced a plan to make up to €40 billion available for railway modernisation programmes until 2027.

    These more comfortable and reliable trains will help convince people living on the outskirts of Munich to leave their cars at home and take the train.
    Alexander Gerum

    S-Bahn Munich project manager, Bayerische Eisenbahngesellschaft


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