The new rolling stock company has been established within the Centralny Port Komunikacyjny capital group and will operate under a ROSCO model, already used in several European leasing markets.
Under this model, it will purchase trains and later lease them to operators instead of requiring operators to finance and maintain the rolling stock directly.
In the first stage, Port Polska.KDP will focus on trains for long-distance High-Speed Rail services, as well as Aero Express and Regio Express connections. These services are expected to include routes between Warsaw, Łódź and the new airport.
The estimated value of the rolling stock pool and maintenance depot project is expected to exceed PLN 10.1 billion, or approximately €2.4 billion, by 2035. Under the multiannual programme for Centralny Port Komunikacyjny, PLN 1.74 billion, or around €410 million, is to come from bond issuance, with the remainder financed commercially through equity and debt instruments.
Centralny Port Komunikacyjny, supported by external adviser EY, has already started the process of securing equity financing for the rolling stock procurement and maintenance depot project. An investment teaser has been distributed to potential financial partners and capital market institutions.
Port Polska.KDP is expected to acquire rolling stock in three categories. The first is HSR, with a maximum operating speed of at least 320 km/h, for services between major metropolitan areas. The second is Aero Express, with speeds of at least 200 km/h, using dual-system conventional trains with interiors adapted for airport passengers. The third is Regio Express, also with speeds of at least 200 km/h, intended for regional and inter-regional services ordered by regional authorities or their operators.
The creation of the rolling stock company is linked to the planned opening of the Polish passenger rail market after 2030, following implementation of the Fourth Railway Package. Port Polska argues that ROSCO-type companies may be able to secure financing for rolling stock on more favourable terms than operators, because they are less dependent on winning individual service contracts.
The acquired rolling stock is intended to remain in continuous use by railway operators, while the leasing model should reduce the financial barrier for operators entering future high-speed, airport and regional express services.
