30 June 2008
Hitachi Europe Ltd (Hitachi) today announced it has submitted its tender for the Intercity Express Programme (IEP). Hitachi launched its bid through Agility Trains Ltd (a consortium comprising of Hitachi (Japan) Ltd, Barclays Private Equity and John Laing Projects and Developments, a division of John Laing PLC.
If successful Hitachi's bid would meet the DfT's expectations of increased reliability and passenger carrying capacity delivered during the period 2013 - 2018.
Hitachi is confident that its bid will deliver on the DfT's key objectives and its offering would deliver significant environmental benefits, with the energy consumption lower than existing rolling stock.
Alistair Dormer, General Manager at Hitachi Rail Group London, said: "We are delighted to submit our tender for the IEP, offering British Rail Passengers the best of Japanese design combined with high speed UK rail expertise. The Hitachi Super Express Train design has been developed using proven technology from the latest Japanese Shinkansen 'bullet train' and the 140mph Hitachi class 395 trains for CTRL which are on schedule to enter service in Kent in 2009'. "
Hitachi's partners in the Agility Trains consortium include Barclays Private Equity and John Laing Projects and Developments. John Laing is a leader in PPP/PFI and long-term project operations. "
Andy Pearson, Director of John Laing Projects & Developments, said "We're delighted to bring our financial experience and proven track record in the rail infrastructure marketplace, to the Agility Trains team. Hitachi has developed a world class product for the Intercity Express Programme and we look forward to working with them and Barclays Private Equity to secure a successful contract award."
Barclays Private Equity is one of Europe's leading private equity investors, investing ｣1 billion of equity in 130 PFI projects since the programme was launched in 1996.
Andy Matthews, Director, Barclays Private Equity, said: "Our partnership with Hitachi and John Laing is highly complementary. We are delighted to bring our financial and investment expertise together with Hitachi's high speed train pedigree and John Laing's expertise in depot design and construction.' Working together as the Agility Trains consortium our bid delivers Trains fully compliant with the DfT's requirements, underpinned by a significant investment in maintenance facilities. Our bid is backed by a consortium of leading banks competitively selected to deliver best value in the market and presented with complete financial transparency."
Hirofumi Ojima
Hitachi Europe Ltd
Rail Group
TEL : 020 7970 2700
Ewan Robertson
Citigate Dewe Rogerson
TEL : 020 7282 2981
Hitachi Europe Ltd., is a wholly owned subsidiary of Hitachi, Ltd., Japan, headquartered in Maidenhead, UK. Hitachi Europe tailors its services and solutions to meet the specific needs of its customers. Hitachi Europe comprises of nine key business areas: air conditioning and refrigeration systems, digital media products, display products, European procurement and sourcing, industrial components and equipment, Via Mechanics, information systems, power and industrial systems, and rail. For more information about Hitachi Europe Ltd., please visit http://www.hitachi-eu.com.
John Laing plc is a specialist provider of facilities through public private partnerships with a long-term perspective and approach. The company manages and delivers 64 projects from planning and funding through to design, construction and operation. It is actively involved in the management of a wide range of health, education, police, rail, roads and special purpose government facilities both UK and internationally.
John Laing Projects & Developments (JLPD) provides infrastructure and development solutions to public authorities requiring new infrastructure through new procurement methods. It creates value through extending John Laing's core PPP skills and experience, in particular from partnering with the public sector and managing cost and programme delivery.
In rail infrastructure it focuses on development and maintenance (e.g. stations and depots). It has been involved in a number of station developments including: Coleshill Parkway and Aylesbury Vale. Here its model is to provide funding, manage the development and then own and manage the station once operational. It is also involved in a number of mixed-use schemes that combine residential/commercial developments with rail infrastructure.
Barclays Private Equity ("BPE") is acting in its capacity as manager of various infrastructure funds. It is a wholly owned subsidiary of Barclays Bank Plc. It launched its first Infrastructure Fund in 1996, the Barclays UK Infrastructure Fund. Subsequently four further infrastructure funds have been successfully raised; I2 and the Alma Mater Fund, which have been established as joint ventures and the Barclays European Infrastructure Fund and BEIF II. The total value of funds currently under management exceeds ｣1billion and over 170 individual investments have been made.
Will Bowen
Barclays Capital, Corporate Communications
Tel : 0207 773 3250
E-mail : bowen@barcap.com