MADRID Metro has signed loan agreements with two lenders to substantially cover the €1bn cost of 80 new metro trains, the purchase of which was approved by the Spanish capital’s regional government in October 2023.

The European Investment Bank (EIB) will provide €470m, equivalent to 50% of the purchase cost of the new fleet, while the Instituto de Crédito Oficial (ICO) will lend €350m, equivalent to 38% of project’s total cost.

The renewal of the metro train fleet in the Spanish capital will support sustainable transport objectives by reducing carbon emissions. Both lenders say sustainability criteria, including the high energy efficiency of the new fleet, were crucial in obtaining approval for the funding.

Half of the 80 new trains will be small-profile to run on Line 1, while the remainder will be built to Madrid Metro’s large-profile loading gauge to run on lines 6, 8 and 11. The first trains are expected to enter service by the end of 2026 and will include passive provision for the future incorporation of automatic train operation (ATO).