Finance: North America

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

• London announces programme to upgrade buses to meet Euro VI standard

  June 28, 2017
  The city of London has announced a GBP86.1-million bus refurbishment programme to equip the city’s buses with the Euro VI emission standard by September 2020.

• Ottawa LRT Stage II achieves financial closure, Canada

  June 23, 2017
  The Government of Canada has announced plans to allocate USD820.02 million funding for the Ottawa Light Rail Transit (LRT) Stage II project.

• BART announces FY2018 budget, United States [free access]

  June 23, 2017
  San Francisco Bay Area Rapid Transit (BART) has approved the Fiscal Year (FY) 2018 budget of USD1.92 billion.

• ADB to finance Dakar TER, Senegal

  June 23, 2017
  The African Development Bank (ADB) has announced plans to allocate USD192.8 million for the development of the Train Express Régional (TER) Phase I in Dakar, Senegal.

• Finch West LRT secures government funding, Canada

  June 23, 2017
  The Government of Canada and Government of Ontario have allocated CAD333 million and CAD1.2 billion, respectively, for the Finch West light rail transit (LRT) project.

• BDZ secures interest-free loan for debt repayment and new rolling stock, Bulgaria

  June 22, 2017
  The Government of Bulgaria has announced plans to provide a EUR114.6-million interest-free loan to state-owned railway operator BDZ.

• Canadian government to allocate USD960 million for Montreal REM [free access]

  June 16, 2017
  Canada’s federal government has announced plans to fund the USD960-million Montreal Metropolitan Electric Network (Montreal REM) project.

• USDOT to provide USD197 million to implement PTC, United States [free access]

  June 5, 2017
  The United States Department of Transportation (USDOT) has granted USD197 million to implement positive train control (PTC) systems to reduce train-to-train collisions, derailments and incursions on the rail network.

• New Flyer acquires Carlson, Canada

  June 5, 2017
  Canada-based bus manufacturer, New Flyer Industries, has acquired Carlson Engineered Composites for a consideration of CAD13 million.

• Allegheny County BRT route finalised, United States

  June 2, 2017
  The Allegheny County has finalised the route for the development of a bus rapid transit (BRT) system.

• Funding approved for Caltrain electrification, United States

  May 23, 2017
  The Federal Transit Administration (FTA) has announced plans to grant USD650 million for electrification of Caltrain tracks.

• California Energy Commission grants funds to pilot electric bus systems

  May 13, 2017
  The California Energy Commission has allocated USD2 million to Prospect Silicon Valley and an innovative Silicon Valley collaborative (including the Santa Clara Valley Transportation Authority [VTA]) to research, develop and demonstrate an advanced energy management and grid services system to deploy electric transit bus fleet in the city.

• OC Streetcar secures funding

  May 4, 2017
  The Orange County (OC) Streetcar project has secured a USD50-million financing from the Federal government under the New Starts programme.

• Sound Transit to receive USD100 million for Seattle Lynnwood Link LRT extension

  May 4, 2017
  The United States federal government has announced plans to provide USD100 million to Sound Transit in fiscal year 2017 as the first instalment for the Seattle Lynnwood Link light-rail transit (LRT) extension.

• Funds allocated for PATH Extension, United States

  April 28, 2017
  The Port Authority of New York and New Jersey (PANYNJ) Board has allocated USD57 million for the extension of Port Authority Trans-Hudson (PATH system).

• FTA to provide competitive grant funds for bus projects, US

  April 28, 2017
  The Federal Transit Administration (FTA) has invited bids to sanction USD55 million in competitive grant funds through FTA’s Low or No Emission (Low-No) Bus Program to promote clean buses.