Qtectic (a consortium of John Laing, Aberdeen Standard Investment, Itochu, and Alstom) has refinanced existing debt facilities for New Generation Rollingstock (NGR) with an AUD 630 million (US$ 279.26 million) Green Loan with Climate Bond Initiative certification.

The NGR project meets the Climate Bonds Standard low carbon transportation criteria and will help to avoid greenhouse gas emissions from alternative modes of transport.

The NGR project comprises the provision and maintenance of 75 new electric six-car trains for the South East Queensland suburban passenger rail network for a duration of 30 years and the construction and maintenance of a depot facility. Features of the new trains include capacity for 964 passengers in each six-car train, onboard WiFi, CCTV throughout the train, LCD infotainment displays, toilet modules, 12 allocated spaces for mobility aids and more enhancements to the passenger experience.

The investment is consistent with John Laing’s commitment to the decarbonisation of transport. The project is being delivered by Qtectic in partnership with the Department of Transport and Main Roads and operated by Queensland Rail. John Laing is a 40% shareholder in Qtectic, along with co-investors Aberdeen Standard Investment, Itochu and Alstom.