Improving connectivity on the Docklands Light Railway in east and south London
The UK Infrastructure Bank Local Authority function provided a £300m facility to Transport for London to support delivery of its Docklands Light Railway (DLR) Rolling Stock Replacement Programme.
The programme will improve connectivity and unlock housing development in some of England’s most deprived communities.
Deal facts
- ClientTransport for London
- SectorTransport
- SubsectorMass transit
- LocationLondon
- Total UKIB investment£300m
- ServiceLending
- Date signedDecember 2023
54 new trains will increase capacity and reliability on the DLR network, encouraging modal shift and boosting productivity in the surrounding areas
A significant part of the DLR’s rolling stock fleet is nearing the end of its useful life and requires replacement. Under the DLR Rolling Stock Replacement Programme TfL will replace two thirds of existing DLR rolling stock with new trains that will increase both capacity and reliability on the network.
UKIB’s £300m will be utilised by TfL over a three year period. The facility will support the acquisition of 54 new DLR trains, upgrades to the DLR’s signalling software and control centre, new sidings, a maintenance shed, a new power feed, and station upgrades.
The loan is being deployed alongside a grant provided by the Department for Levelling Up, Homes and Communities via its Housing Infrastructure Fund. The grant has been provided to unlock significant housing development opportunities in the communities the DLR serves.
A word from the team
Iain Watson, Director of Lending, UKIB LA function, said:
This deal is a great example of how UKIB can come in alongside other sources of government funding to help make really big projects happen in a way that is affordable and flexible for the borrowing authority.
The replacement of the Docklands Light Railway fleet in east London is a vital project which will deliver a range of benefits to our customers and create increased capacity along the line. This funding from the UK Infrastructure Bank demonstrates further support for the project and which has allowed us to improve upon our previous borrowing strategy and incorporate a long-term loan with rates which offer great value for money, locking us into savings in interest costs across the life of these assets.
Rachel McLean
Chief Finance Officer, Transport for London
Share this page