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

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North America

USDOT issues NOFO for USD900 million in BUILD grants [free access]

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.

Latin America

Peru funds Lima Metro Line 4 studies 

March 28, 2019
Peru’s Ministry of Economy and Finance (MEF) has transferred PEN17.64 million to Peru’s Ministry of Transport and Communications to fund feasibility and environmental impact studies for Lima Metro Line 4.

Mexico City to invest MXN30 billion in public transit by 2025, Mexico 

March 13, 2019
The city government of Mexico City has announced plans to invest MXN30 billion during 2019–2025 to expand the public transport network in the city.

Mexico funds Guadalajara LRT Line 3; to begin operations by December 2019 

February 28, 2019
The Government of Mexico has allocated USD239.08 million for Guadalajara light rail transit (LRT) Line 3 and has announced plans to commence operations by December 2019.

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.

Asia Pacific

Auckland City Rail Link cost increases 

April 17, 2019
The cost of Auckland’s City Rail Link (CRL) has risen from the estimated NZD3.4 billion to NZD4.4 billion due to an increase in construction costs (NZD327 million), contingency and escalation costs (NZD310 million), costs of lengthening the platforms to accommodate a longer nine-car train (NZD250 million), and indirect costs (NZD152 million).

Australian federal budget allocates AUD2 billion for rail projects [free access]

April 3, 2019
The federal government of Australia has allocated AUD2 billion from 2020–21 for the upgradation of the Melbourne–Geelong line in the state of Victoria.

Tokyo Metro to invest JPY490 billion by 2021, Japan [free access]

March 28, 2019
Tokyo Metro Company Limited (Tokyo Metro) has published Tokyo Metro Plan 2021, which involves an investment of JPY490 billion by 2021.

HCMC approves USD93 million funding for HCMC Metro Line 1 

March 23, 2019
The People’s Committee of Ho Chi Minh City (HCMC) has approved USD93 million (VND2.1 trillion) funding for HCMC Metro Line 1.


Stadler launches IPO; valued at CHF3.8 billion [free access]

April 12, 2019
Stadler Rail has launched an initial public offering (IPO) on the SIX Swiss Exchange.

MIT provides funding for Messina Tram 

April 9, 2019
Italy’s Ministry of Infrastructure and Transport (MIT) has allocated EUR100 million to upgrade and expand the Messina Tram, which comprises one 7.7-km-long line.

INPP to fully acquire BeNEX 

April 1, 2019
International Public Partnerships (INPP) has signed a sale and purchase agreement to acquire 51 per cent shares in BeNEX GmbH, the rail and bus operator in Hamburg, from Hamburger Hochbahn AG, the public transport authority in Hamburg.

Liverpool secures funds to deploy clean buses, UK 

April 1, 2019
The Liverpool City Region has secured GBP8.9 million in funds for the purchase of hydrogen buses and for the retrofit of diesel buses under two separate government funds.

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.