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Developments in transport finance, PPP, debt, equity, M&A deals


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North America


FRA cancels USD928 million California HSR grant, US 

May 17, 2019
The Federal Railroad Administration (FRA) has terminated its Cooperative Agreement with the California High-Speed Rail Authority (CHSRA) and cancelled more than USD928 million in grants for the high-speed rail (HSR) project.

NJ Transit and Amtrak to invest in NEC railroad, US 

May 16, 2019
New Jersey Transit (NJ Transit) and Amtrak have announced plans to make a joint investment of USD31 million to refurbish the railroad infrastructure along the Northeast Corridor (NEC) in New Jersey.

NADB to fund Monterrey Metro Line 3 rolling stock, Mexico [free access]

May 16, 2019
The Board of Directors of the North American Development Bank (NADB) has approved a USD122.62 million credit line for Regiotren, S.A. de C.V. (Regiotren) to procure 22 electric trains for Metrorrey Metro Line 3, an upcoming light rail line in Monterrey.

FTA announces USD423 million in funds for bus projects nationwide 

May 15, 2019
The Federal Transit Administration (FTA) has announced an opportunity to apply for USD423.3 million in Fiscal Year 2019 (FY 2019) competitive grant funding for mass transit bus projects.



Latin America


Mexico City to fund light-rail track-replacement works 

May 4, 2019
The government of Mexico City has announced plans to invest MXN280 million to replace the tracks of Mexico City’s light rail Taxqueña–Azteca Stadium section.

Peru funds Lima Metro Line 4 studies 

March 28, 2019
Peru’s Ministry of Economy and Finance (MEF) has transferred PEN17.64 million to Peru’s Ministry of Transport and Communications to fund feasibility and environmental impact studies for Lima Metro Line 4.

Mexico City to invest MXN30 billion in public transit by 2025, Mexico 

March 13, 2019
The city government of Mexico City has announced plans to invest MXN30 billion during 2019–2025 to expand the public transport network in the city.

Mexico funds Guadalajara LRT Line 3; to begin operations by December 2019 

February 28, 2019
The Government of Mexico has allocated USD239.08 million for Guadalajara light rail transit (LRT) Line 3 and has announced plans to commence operations by December 2019.



Asia Pacific


China’s high-speed project secures CNY28.1 billion in financing [free access]

May 1, 2019
The first high-speed line to be built through a public–private partnership (PPP) in China has secured financing worth CNY28.1 billion from a group of Chinese banks, including the China Construction Bank and the Agricultural Bank of China.

South Korea funds Addis Ababa BRT, Ethiopia [free access]

April 24, 2019
The Government of South Korea has signed a USD300 million loan agreement with the Government of Ethiopia to execute high-priority projects by 2020.

Auckland City Rail Link cost increases 

April 17, 2019
The cost of Auckland’s City Rail Link (CRL) has risen from the estimated NZD3.4 billion to NZD4.4 billion due to an increase in construction costs (NZD327 million), contingency and escalation costs (NZD310 million), costs of lengthening the platforms to accommodate a longer nine-car train (NZD250 million), and indirect costs (NZD152 million).

Australian federal budget allocates AUD2 billion for rail projects [free access]

April 3, 2019
The federal government of Australia has allocated AUD2 billion from 2020–21 for the upgradation of the Melbourne–Geelong line in the state of Victoria.



Europe


FS Italiane to invest EUR58 billion in transport by 2023, Italy 

May 17, 2019
FS Italiane Group has unveiled its Industrial Plan 2019–2023, which involves an investment of EUR58 billion.

Stuttgart allocates funds for tram rolling stock and depot, Germany [free access]

May 13, 2019
Stuttgart City Council has allocated EUR72.5 million funds to Stuttgarter Straßenbahnen AG (SSB) for the acquisition of 20 light rail vehicles (LRVs) and for the construction of a new depot.

Revised cost approved for Raide–Jokeri Light Rail; to begin construction by June 2019, Finland 

May 3, 2019
The city councils of Helsinki and Espoo have approved the revised cost of the Raide–Jokeri Light Rail project and also announced plans to begin construction work on the project by June 2019.

Stadler launches IPO; valued at CHF3.8 billion [free access]

April 12, 2019
Stadler Rail has launched an initial public offering (IPO) on the SIX Swiss Exchange.



Middle East & Africa


Kenya allocates KES5.53 billion for bus-only lanes in Nairobi 

May 18, 2019
The National Treasury of Kenya has allocated KES5.53 billion to develop exclusive lanes for high-capacity buses planned to be deployed in Nairobi.

EXIM China to finance Cairo LRT, Egypt 

January 18, 2019
The Export and Import Bank of China has signed a loan agreement with Egypt’s Ministry of Transport to provide a USD1.2 billion soft loan for the Greater Cairo light rail transit (LRT).

EU to fund Nairobi BRT, Kenya 

October 31, 2018
The European Union (EU) has approved a grant of USD48.75 million for the development of a bus rapid transit (BRT) system in Nairobi.

Passenger service commences on Abuja LRT; EXIM China to finance LRV procurement, Nigeria 

July 13, 2018
Passenger services have commenced on Phase I of Abuja light rail transit (LRT).