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

North America Latin America Asia Pacific
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North America

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.

Latin America

EIB to finance Buenos Aires Subway modernisation 

December 12, 2018
The European Investment Bank (EIB) has approved a USD104-million loan to finance the modernisation of Buenos Aires Subway Line D and the upgrade of Obelisco Station, which connects Lines B, C and D.

CAF to finance São Paulo Metro Line 17 Phase I 

December 8, 2018
Corporacion Andina de Fomento (CAF), the development bank of Latin America, has approved a USD296-million loan for the construction of Phase I of the São Paulo Metro Line 17.

Mexico City presents MXN10.2-billion Mobility Plan 

November 22, 2018
The city government of Mexico City has released a Mobility Plan, which proposes an investment of MXN10.2 billion in public transportation.

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.

Asia Pacific

Indian states allocate funds for metro, buses and commuter rail 

February 11, 2019
The state governments of Uttar Pradesh and Tamil Nadu have allocated a total of INR91.46 billion for development and expansion of public transport system in their respective states.

Kerala approves INR5.9-billion Vyttila Mobility Hub Phase II 

February 5, 2019
Vyttila Mobility Hub Society (VMHS), the governing body of Vyttila Mobility Hub, has approved the second phase of the project at an estimated investment of INR5.9 billion.

India allocates funds for MRTS and MUTP in the interim budget 

February 1, 2019
The Government of India (GoI), in its interim budget, has allocated a total of INR191.53 billion to the Ministry of Housing and Urban Affairs for the development of metro and mass rapid transit systems (MRTS).

Shanghai MinTu Investment Holdings to invest USD100 million in Makati Subway, Philippines 

January 30, 2019
China-based Shanghai MinTu Investment Holdings has received approval from China’s Ministry of Commerce to invest USD100 million in the Makati Subway project.


263 clean buses to be deployed across England and Wales [free access]

February 7, 2019
The Department for Transport (DfT) has announced an investment of GBP48 million for deployment of 263 new ultra-low emission buses (243 electric and 20 hydrogen) and charging infrastructure across England and Wales.

Tram’Ardent consortium secures financing under the Juncker Plan [free access]

February 1, 2019
The European Investment Bank (EIB) has signed a EUR200-million finance contract with the Tram’Ardent consortium, the selected contractor to design, build, finance and maintain (DBFM) the Liège Tramway project on public-private partnership (PPP) basis.

Follobanen project cost increases and timeline escalates, Norway 

January 31, 2019
Bane NOR has announced an increase in the project cost by 7.7 per cent and a delay in the timeline of the Follobanen/Follo Line by one year due to the cancellation of two engineering, procurement, and construction (EPC) contracts with Italy-based construction contractor Società Italiana per Condotte d'Acqua S.p.A (Condotte).

EBRD finances bus modernisation and procurement in Skopje, Macedonia 

January 29, 2019
The European Bank for Reconstruction and Development (EBRD) has provided a EUR10 million sovereign guarantee loan to the city of Skopje for the modernisation of bus operations and the procurement of low-emission buses.

Middle East & Africa

EXIM China to finance Cairo LRT, Egypt 

January 18, 2019
The Export and Import Bank of China has signed a loan agreement with Egypt’s Ministry of Transport to provide a USD1.2 billion soft loan for the Greater Cairo light rail transit (LRT).

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.