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

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North America

Chicago’s Metra approves 2019 operating and capital budget, US 

November 12, 2018
The Metra Board of Directors have approved the 2019 operating budget of USD822.2 million, a 3.1 per cent increase over the 2018 budget.

STM approves 2019 budget and 2019-2028 capex programme, Canada 

November 8, 2018
The Société de Transport de Montréal (STM) has approved the CAD1.5-billion 2019 Budget and the CAD15.6 billion 2019-2028 capital expenditures (capex) programme.

Alberta to invest in Edmonton LRT expansion, Canada [free access]

November 1, 2018
The Province of Alberta has announced plans to invest CAD1.04 billion in the Valley Line light rail transit (LRT) expansion and gain a 40 per cent stake in the project.

Virginia announces fund for electric bus procurement, US 

November 1, 2018
The Commonwealth of Virginia has announced plans to allocate USD14 million to local transit authorities to support the replacement of their aging bus fleets with electric buses.

Latin America

Argentina to invest in transport infrastructure in 2019 

September 26, 2018
Argentina’s Ministry of Transport has announced plans to invest ARS180 billion in transport infrastructure in 2019.

Urban transport firms to finance Cancún-Tulum Metrobus BRT 

September 19, 2018
A consortium of local urban transport firms - Turicún, Autocar, Maya Caribe and Cooperativa Bonfil - has announced plans to provide an initial investment of MXN250 million for the construction of Cancún-Tulum Metrobus bus rapid transit (BRT) project.

Bogotá BRT receives funding for two corridors, Colombia [free access]

August 8, 2018
Colombia’s Economic and Social Policy Council/Consejo Nacional de Política Económica y Social (CONPES) has approved COP4.02 trillion (USD1.3 billion) for the development of two corridors, namely, Avenue 68 and Avenue Ciudad de Cali, of TransMilenio bus rapid transit (BRT) system in Bogotá.

World Bank approves loan for Bogotá Metro, Colombia 

August 3, 2018
The World Bank has approved the first loan of USD70 million for Line 1 of the Bogotá Metro.

Asia Pacific

Mumbai suburban rail secures funds for upgrade and expansion [free access]

November 12, 2018
Indian Railways has announced plans to invest USD8.9 billion in the suburban rail network of Mumbai.

JICA funds Manila MRT-3 rehabilitation 

November 10, 2018
The Japan International Co-operation Agency (JICA) has signed an agreement with the Government of the Philippines to provide an official development assistance (ODA) loan of up to USD330 million for the rehabilitation of the Manila Metro Rail Transit Line 3 (MRT Line 3).

ComfortDelGro to invest in mobility solutions, Singapore 

November 9, 2018
ComfortDelGro Corporation has announced plans to establish a USD100-million corporate venture capital fund to invest in technology start-ups that complement its land transport business.

ComfortDelGro acquires business in Australia 

November 5, 2018
ComfortDelGro Corporation Australia Pty Limited (CDC Australia), a wholly-owned subsidiary of Singapore-based ComfortDelGro Corporation (ComfortDelGro), has entered into an agreement to acquire Australia-based bus operators, Buslink and Buslink Southern, for AUD168.2 million by end-November 2018.


PPP proposal submitted for Brescia tram lines, Italy 

November 8, 2018
Brescia Mobilità (Brescia Transport Authority) and FS Italiane (Italian Railways) have submitted a proposal to the Municipality of Brescia to develop two tramlines on a public private partnership (PPP) basis.

Bucharest to modernise tramways with new fleet 

October 30, 2018
The General Council of Bucharest/Consiliul General al Municipiului Bucureşti (CGMB) has approved plans of Bucharest Municipality to invest EUR1.96 million for procurement of 56 trams under the Regional Operational Programme 2014-2020.

Hitachi fully acquires Ansaldo STS 

October 29, 2018
Hitachi Limited (Hitachi) and Hitachi Rail Italy Investments S.r.l. (HRI) have signed an agreement with Elliott Management Corporation, Elliott International, L.P., Elliott Associates, L.P. and The Liverpool Limited Partnership to purchase the entire shareholding in Ansaldo STS.

DfT provides additional funding to cover Crossrail delays, UK 

October 26, 2018
The Department for Transport (DfT) has announced plans to provide short term repayable financing of GBP350 million for the upcoming Crossrail project to cover costs of opening delay from December 2018 to the second half of 2019.

Middle East & Africa

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).

EIB to finance suburban train procurement in Tunis 

April 18, 2018
The European Investment Bank (EIB) has approved financing of EUR45 million for the procurement of 18 trains by Transtu, the public transport company of the Greater Tunis Area.

Angola receives AfDB financing for National Transport plan, to increase operating buses in Luanda 

March 30, 2018
The African Development Bank (AfDB) has provided USD 4 million for the Transport Sector National Steering Plan released in Luanda.