10 Years Ago HZ Ordered New Trains for €1.66 Billion, Where Are They?

Lauren Simmonds

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As Poslovni Dnevnik/Jadranka Dozan writes, in order to procure seven new diesel-electric motor trains, the Croatian Government gave the “green light” to HZ Putnicki prijevoz (CR Passenger transport) to sign pre-financing and lease agreements with EUROFIMA – the European Society for Financing the Procurement of Railway Materials. The value of this financing stands at a massive 31 million euros.

When it comes to the renewal of HZ Putnicki prijevoz’s fleet, ten years ago, as part of the strategic goals of restructuring, the government “appointed” a plan worth 1.66 billion kuna for the purchase of a total of 44 new passenger trains – 32 being electric and 12 being diesel-electric.

A few years later (more precisely back in 2014), sales were agreed with Koncar – HZ PP Electric Vehicles, and in the same year financing was provided for a total of 33 such trains.

A total of 29 electric trains have been delivered so far, and the remaining three deliveries are expected to arrive later this year. In the case of diesel-electrics, all five had financing provided for them (one loan from HBOR, and four from an IBRD loan).

For the remaining seven vehicles, funding is being provided through EUROFIME, with delivery being promised by the end of 2024, thus completing the major procurement project.

In addition to approving these requests from HZ Putnicki prijevoz, in order to finance the reconstruction and modernisation of Croatian railway infrastructure on projects not financed from European Union (EU) funds and international development banks, the Croatian Government also approved a request from HZ Infrastruktura (Infrastructure) for two loans from HBOR in the amount of 200 million kuna.

These are loans envisaged by the Financing Plan for the year 2022 and projections for the coming years of 2023 and 2024. The explanation states, among other things, that the debt balance of Infrastruktura for total credit loans at the end of January amounts to 1.78 billion kuna.

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