Finance: North America

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

• FRA awards USD326 million to rail infrastructure improvement projects, US

  June 13, 2019
  The Federal Railroad Administration (FRA) has awarded USD326 million through the Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program and the Special Transportation Circumstances Program to 45 railroad infrastructure projects in 29 states.

• Canada Infrastructure Bank invests up to CAD2 billion for GO Transit expansion

  June 3, 2019
  Canada Infrastructure Bank (CIB) has announced plans to invest up to CAD2 billion for the expansion of the ‘GO Expansion On Corridor’ project in the province of Ontario.

• LA Metro approves USD7.2 billion budget for FY2020

  May 24, 2019
  The board of directors of the Los Angeles County Metropolitan Transportation Authority (LA Metro) has approved a USD7.2 billion budget for fiscal year 2020 (FY2020).

• 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.

• FTA announces USD15 million fund for innovative mobility projects, US

  May 8, 2019
  The Federal Transit Administration (FTA) has announced an opportunity to apply for USD15 million in funds through the Integrated Mobility Innovation (IMI) Demonstration programme.

• California HSR project cost rises to USD79 billion

  May 3, 2019
  The total cost of the California high-speed rail (HSR) project has further increased by USD2 billion to USD79 billion.

• USDOT issues NOFO for USD900 million in BUILD grants

  April 22, 2019
  The US Department of Transportation (USDOT) has formally issued a Notice of Funding Opportunity (NOFO) to apply for USD900 million through the Fiscal Year 2019 (FY2019) Better Utilizing Investments to Leverage Development (BUILD) Transportation Discretionary Grants programme.

• Canada to fund 136 rail safety improvement projects

  April 17, 2019
  The Government of Canada has announced plans to allocate CAD16.5 million in funds through the Rail Safety Improvement Program to 136 projects nationwide to help enhance rail safety.

• 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.