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

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North America

NJ Transit approves funds for rail transit, United States [free access]

July 18, 2017
New Jersey Transit (NJ Transit), the public transport operator in New Jersey, New York and Philadelphia, has announced plans to invest USD3.58 billion in transit infrastructure and light rail transit (LRT) system.

FTA to fund transit bus service improvement 

July 12, 2017
The Federal Transit Administration (FTA) has announced plans to allocate USD226.5 million in competitive grant funding to improve transit bus services.

Ontario to pay more for Presto installation on TTC network, Canada 

June 30, 2017
The cost of installation of the Presto fare card system on the Toronto Transit Commission (TTC) network has increased to CAD385 million, which is 50 per cent more than the original estimates.

Funds allocated for Foothill Gold LRT in Los Angeles, United States 

June 30, 2017
The Los Angeles County Metropolitan Transportation Authority (LACMTA) has approved USD 1.4 billion for the development of the 18.5-km extension of the Metro Gold Line to Claremont.

Latin America

Construction of Metrobús Line 5 extension begins, Mexico 

August 22, 2017
The Government of Mexico City has commenced the construction of Metrobús bus rapid transit (BRT) Line 5 extension.

UBS structures new debt for Panama Metro Line 2 

July 28, 2017
Swiss bank UBS is planning to sell a secured debt of USD619 million through SPARC EM (an issuance vehicle).

SCT to fund Monterrey Metro Line 3, Mexico 

July 10, 2017
Mexico’s Sistema de Transporte Colectivo (STC) has announced plans to allocate USD65.4 million for the construction of eight stations and workshops for the Monterrey Metro Line 3.

SHCP to secure loan for Monterrey Metro Line 3 

June 30, 2017
The Secretaría de Hacienda y Crédito Público (SHCP) has announced plans to secure an MXN2.32-billion loan to acquire 26 trains for Monterrey Metro Line 3.

Asia Pacific

Indian government approves new Metro Rail Policy, focussing on PPP [free access]

August 21, 2017
The Government of India has approved the new Metro Rail Policy 2017 for expanding and regulating metro rail services in cities across India.

AFD and EIB to fund Pune Metro [free access]

August 12, 2017
Maharashtra Metro Rail Corporation Limited (Maha-Metro) has received approval to secure EUR245 million from French Development Agency/Agence française de développement (AFD) for rolling stock, traction and signalling systems at the end of 2017 or early 2018.

Philippines to invest PHP17 billion in rail projects 

August 7, 2017
he Government of Philippines has announced plans to invest PHP17 billion as part of PHP3.767-trillion national budget for 2018, to expand the capacity of commuter trains in Manila and nearby provinces.

Jakarta seeks private financing for LRT’s TOD project 

August 1, 2017
The Government of Jakarta has invited private lenders to participate in financing the construction of three transit-oriented development (TOD) facilities being developed as part of the light rail transit (LRT) project.


Calabria to invest in bus and rail rolling stock, Italy 

August 17, 2017
The Government of Calabria has approved an investment of EUR214 million to procure 22 mainline trains, five regional trains and seven Construcciones y Auxiliar de Ferrocarriles (CAF) Urbos light-rail vehicles (LRVs).

EC allocates EUR110.5-million for Rail Baltica HSR Phase II 

July 30, 2017
The European Commission (EC) has allocated EUR110.5 million for Phase II of Rail Baltica high speed rail (HSR) line.

Government allocates EUR40 million for MetroGuagua BRT, Spain 

July 27, 2017
The Government of Spain has allocated EUR40 million over a four-year funding programme for a bus rapid transit (BRT) system locally known as MetroGuagua.

Adif-AV issues green bond 

July 22, 2017
Spanish high-speed rail (HSR) infrastructure manager ADIF Alta Velocidad (Adif-AV) has issued a EUR600-million ‘green bond’, through a syndicate of banks, including Banco Bilbao Vizcaya Argentaria (BBVA), BNP Paribas, Crédit Agricole and Santander, to finance or refinance environment-friendly projects.

Middle East & Africa

ONCF secures loan for Tangier-Casablanca HSR 

July 31, 2017
Morocco’s national rail operator Office National des Chemins de Fer du Maroc (ONCF) has signed a KWD15-million second loan agreement with the Kuwait Fund for Arab Economic Development to finance the Tangier-Casablanca high-speed rail (HSR) project.

EXIM-China to finance Tehran-Mashhad HSR electrification 

July 26, 2017
The Export Import Bank of China (EXIM) has signed a USD1.5-billion deal to finance the electrification of high-speed rail (HSR) line between Tehran and Mashhad in Iran.

Alstom forms JV with Iranian companies to produce metro cars 

July 25, 2017
France-based Alstom has entered into a joint venture (JV) with Industrial Development and Renovation Organization (IDRO) of Iran and Iranian Rail Industries Development Company (IRICO), for the manufacture of metro and suburban rail carriages. Alstom holds a 60 per cent share in the JV, while the Iranian firms hold 20 per cent each.

World Bank allocates funds for Dakar BRT, Senegal 

May 29, 2017
The World Bank has allocated funding of USD313.5 million for the development of a bus rapid transit (BRT) system in Dakar, Senegal.