Poland’s PKP Intercity Secures €712.5M Loan for New Trains

WARSAW, POLAND – Poland’s national long-distance operator, PKP Intercity, has secured a landmark PLN 3 billion (approx. €712.5 million) credit facility to power one of the most ambitious fleet modernization programs in Europe. The financing, provided by a consortium of Polish state-owned banks, will primarily fund the acquisition of 42 high-capacity Coradia Max double-decker electric trains from Alstom, a cornerstone of the operator’s multi-billion-euro strategy to enhance national rail services.

PKP Intercity has finalized a pivotal credit agreement with Bank Gospodarstwa Krajowego (BGK) and PKO Bank Polski, unlocking substantial capital for its ongoing development. The PLN 3 billion loan, signed on what the operator describes as “very favorable terms,” features a 15-year financing term and a long availability period, providing stable and predictable support for its investment pipeline. “The financing obtained through this loan agreement will enable the company’s continued development, which will strengthen our market position,” stated Joanna Siecińska, a member of the PKP Intercity Management Board, highlighting the long-standing partnership with the two financial institutions.

The centerpiece of this investment is the acquisition of 42 Alstom Coradia Max double-decker Electric Multiple Units (EMUs). These modern trains are designed to operate at speeds of up to 160 km/h and will significantly increase passenger capacity on Poland’s busiest routes. Each trainset is expected to offer spacious, two-level seating, modern passenger information systems, Wi-Fi, and full accessibility for passengers with reduced mobility. The procurement is part of a previously signed €1.6 billion contract with Alstom, which also includes an option for an additional 30 units and a comprehensive 30-year maintenance plan, ensuring long-term reliability and performance of the new fleet.

This financing is a critical component of PKP Intercity’s comprehensive 2025–2030 development strategy, which earmarks a total of €4.8 billion (PLN 20.3 billion) for transformative projects. The majority of this, €4 billion (PLN 16.9 billion), is allocated for the purchase and modernization of rolling stock, while the remaining €807.5 million will be invested in upgrading infrastructure and technical facilities. Siecińska emphasized the operator’s robust financial planning, stating, “Diversifying the financing structure allows for optimal capital raising, effective risk management, and consistent achievement of long-term goals,” pointing to a mix of own resources, financial commitments, and European Union funds.

Key Takeaways

• Major Financing Secured: A PLN 3 billion (€712.5 million) loan provides stable, long-term funding for PKP Intercity’s modernization efforts.
• Fleet Transformation: The primary goal is the acquisition of 42 Alstom Coradia Max double-decker trains, set to boost capacity and passenger comfort on key national lines.
• Strategic Investment: The deal is part of a massive €4.8 billion strategy for 2025-2030, aimed at comprehensively upgrading both rolling stock and railway infrastructure in Poland.

Editor’s Analysis

This financing agreement is more than just a capital injection; it’s a clear signal of Poland’s commitment to positioning rail as the backbone of its national transport system. By investing in high-capacity, modern rolling stock like the Alstom Coradia Max, PKP Intercity is directly addressing the dual challenges of rising passenger demand and the need for more sustainable travel options. This move not only enhances the competitiveness of rail against air and road transport but also aligns perfectly with the broader European Green Deal objectives. For the global rail market, it underscores the trend of national operators undertaking large-scale, long-term fleet renewals, creating significant opportunities for manufacturers and the wider supply chain while promising a tangible improvement in the passenger experience.

Frequently Asked Questions

What is the total value of the loan secured by PKP Intercity?

PKP Intercity has secured a loan totaling up to PLN 3 billion (approximately €712.5 million) from Bank Gospodarstwa Krajowego and PKO Bank Polski.

What specific trains are being purchased with this financing?

The funds are primarily designated for the purchase of 42 Coradia Max double-decker electric trains from the manufacturer Alstom. The contract includes an option for 30 more units.

What is the scope of PKP Intercity’s overall investment plan?

This loan is part of a larger strategy for the period 2025–2030, under which PKP Intercity plans to invest a total of €4.8 billion (PLN 20.3 billion) in rolling stock and infrastructure.