Finance: North America

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

• TriMet’s FY2020 proposed budget focuses on transit service expansion and improvements, US

  April 11, 2019
  The Tri-County Metropolitan Transportation District of Oregon’s (TriMet’s) proposed budget for Fiscal Year 2020 (FY2020) emphasises the agency’s goal of expanding transit service across the region, with plans to use around USD40–50 million in yearly funding through Keep Oregon Moving to fund various initiatives.

• FTA awards USD1.36 billion in CIG funds to 16 transit projects

  April 10, 2019
  The Federal Transit Administration (FTA) has announced plans to award USD1.36 billion in federal funds through the Capital Investment Grants (CIG) Program to 16 new and existing transit projects across the US.

• Kentucky allocates USD10 million in CMAQ grants to clean-air transit projects, US

  April 4, 2019
  The State of Kentucky has awarded USD10 million in Congestion Mitigation and Air Quality Improvement (CMAQ) grants to state transit providers to finance projects that will enhance air quality and improve safety.

• New York’s FY2020 budget includes up to USD25 billion in funding for MTA upgrades

  April 1, 2019
  New York’s Fiscal Year 2020 (FY2020) Budget includes new funding streams for the Metropolitan Transportation Authority (MTA) and outlines plans for the reform of the MTA.

• AATS Group to acquire Transit Australia Group by June 2019, Australia

  April 1, 2019
  Canadian pension fund OPTrust-owned AATS Group has entered into a contractual agreement to acquire Australia-based Transit Australia Group for an undisclosed sum.

• Oregon Transportation Commission allocates USD161 million to 18 state transit providers, US

  March 28, 2019
  The Oregon Transportation Commission has allocated USD161 million through the Oregon Statewide Transportation Improvement Fund (STIF) to 18 state transit providers.

• Government of Ontario to invest CAD1.2 billion in Stage 2 of Ottawa LRT, Canada

  March 22, 2019
  The Government of Ontario has announced plans to allocate a maximum of CAD1.208 billion to the city of Ottawa to develop stage 2 of the Ottawa light rail transit (LRT).

• FTA announces USD85 million funding opportunity for technologically advanced buses

  March 18, 2019
  The Federal Transit Administration (FTA) has announced an opportunity for applicants including public transit agencies and state transportation departments to apply for up to USD85 million in competitive grant funds through the Low or No Emission (Low-No) Bus Program.

• Edmonton secures CAD2.2 billion in funding for LRT extensions, Canada [free access]

  March 14, 2019
  The city of Edmonton has secured a combined funding of around CAD2.2 billion from the federal and provincial governments for the Valley Line West and Metro Line Northwest light rail transit (LRT) extension projects.

• Alberta awards CAD215 million to 17 transit projects, Canada

  March 11, 2019
  The Government of Alberta has announced plans to allocate CAD215 million over a four-year period through the Alberta Community Transit Fund to 17 municipal transit system projects.

• Wabtec completes USD11 billion merger deal with GE Transportation

  February 27, 2019
  Wabtec Corporation (Wabtec) has concluded a USD11billion merger deal with GE Transportation that combines Wabtec’s freight, locomotive, transit vehicle manufacturing, and electronics products divisions with GE Transportation’s expertise across industries.

• FRA rescinds USD929 million in funding for California HSR project

  February 21, 2019
  The Federal Railroad Administration (FRA) has announced plans to cancel USD929 million in funding for the California high-speed rail (HSR) project.

• Metro Council approves 57 projects for federal funding, US

  February 14, 2019
  The Metropolitan Council (Metro Council) in Minnesota has approved a list of 57 transportation projects selected by the Transportation Advisory Board (TAB) to receive federal funding.

• FRA awards PTC implementation grant to Metro-North, US

  February 8, 2019
  The Federal Railroad Administration has awarded a USD2.3 million grant, as part of the Consolidated Rail Infrastructure and Safety Improvements Program, to the Metro-North Railroad (Metro-North) to support Positive Train Control (PTC) communications testing on the network.

• Alberta to invest in Calgary’s Green Line LRT, Canada

  January 31, 2019
  The city of Calgary and the province of Alberta have signed a CAD3-billion funding agreement for the CAD4.65-billion Stage I of the Green Line light rail transit (LRT) project.

• Virgin Trains USA launches IPO, US

  January 30, 2019
  Virgin Trains USA LLC has announced an initial public offering (IPO) of 28.3 million shares of common stock.

• TTC approves 2019 budget, 2019–2028 capital budget, Canada

  January 25, 2019
  The Toronto Transit Commission (TTC) Board has approved the CAD2.1 billion 2019 operating budget for conventional transit and paratransit services.

• Volvo to invest in Momentum Dynamics to develop wireless electric charging

  January 17, 2019
  Volvo Group Venture Capital AB, a subsidiary of the Volvo Group, has announced plans to invest in US-based Momentum Dynamics to develop high-power-capacity charging (up to 300 KW) for the transportation and automotive sector, especially for autonomous, connected, and commercial electric vehicles.

• WMATA seeks public input on FY2020 budget proposal, US

  January 16, 2019
  The Washington Metropolitan Area Transit Authority (WMATA) has invited public comment on its USD3.4 billion Fiscal Year (FY) 2020 budget proposal.

• FTA awards grant to Portland streetcar system, US

  January 2, 2019
  The Federal Transit Administration (FTA) has awarded a USD1.076 million grant, through its Pilot Program for Transit-Oriented Development Planning, for land-use and transportation planning along the proposed extension of the Portland streetcar system to Montgomery Park.