MOSSEND International Railfreight Park (MIRP) has secured a seven figure funding package from Barclays to help establish the country’s first electric rail terminal.
Scotland’s largest zero-carbon, mulitmodal rail freight park received the funding boost earlier this week to help cover the rail terminal expansion and installation of additional rail tracks.
Peter D Stirling the operator of MIRP are planning to also establish a 775-metre electric rail terminal at the Lanarkshire freight park in Mossend.
MIRP are planning to expand the rail logistics operation at Mossend to provide a further 2.2 million square feet of low carbon, 24/7 distribution, logistics and manufacturing space.
It is estimated that the new terminal development will be able to handle up to 16 electric freight trains per day and transfer over 16 million tonnes of goods each year due to its state-of-the-art, zero-carbon facilities.
The funding, which includes a UK government-backed CBILS loan as part of the overall offering from the bank, will support working capital and provide capital expenditure to expand the current rail terminal and install an additional rail track.
Aligning closely with the Scottish Government’s target to achieve net zero emissions by 2045, MIRP is one of ten projects forming the Scottish Government’s Green Investment Portfolio, launched in September.
David Stirling, Director of Mossend International Railfreight Park operator, Peter D Stirling Ltd, said: “The support from Barclays has been invaluable and this funding allows us to invest in our current infrastructure and expand our rail terminal. As a result, we will be able to meet increased demand and improve our operational efficiency.
“In the longer term, our plans for our new MIRP terminal will offer access to zero-carbon supply chain logistics via electric rail. By co-locating distribution space with rail terminal facilities, carbon emissions are reduced by 80% for every tonne of freight moved by rail.
“Our 775-metre electric rail terminal will be able to handle longer trains, carry three times more goods per journey, taking the equivalent of 90 long-distance HGVs off the roads.”