Finance: Europe

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

• Ministry for Economy, Transport and North Wales to invest GBP30 million in public transport in Wales, UK [free access]

  May 22, 2020
  The Ministry for Economy, Transport and North Wales has announced plans to invest GBP30 million to improve public transport networks in Wales.

• Flemish Ministry of Mobility and Public Works to invest EUR2.2 billion in infrastructure and mobility projects, Belgium

  May 18, 2020
  Mobiliteit en Openbare Werken (MOW), the Flemish Ministry of Mobility and Public Works, has announced a total investment of EUR2.2 billion for 924 infrastructure and mobility projects across Belgium.

• Societe Generale joins EBRD to finance Izmir Metro expansion, Turkey

  May 15, 2020
  Société Générale has joined the European Bank for Reconstruction and Development (EBRD) in financing the expansion of Izmir’s metro network in Turkey.

• EBRD to finance Tbilisi Metro modernisation project, Georgia

  May 6, 2020
  The European Bank for Reconstruction and Development (EBRD) will provide Georgia a EUR75 million sovereign loan to finance modernisation work on the Tbilisi Metro tunnel and depot, and for the procurement of 40 metro cars to encourage the modal shift from cars.

• Voith Group and PCS Holding to acquire majority stake in TSA

  May 4, 2020
  Voith Group, a German technology company, and PCS Holding, a Swiss holding company, have announced plans to acquire 59 per cent of the shares in Traktionssysteme Austria GmbH (TSA), an Austrian manufacturer of electric motors, generators, and transmissions for rail and road vehicles.

• Comune di Genova to acquire funds for trolleybus network expansion, Italy [free access]

  May 3, 2020
  Comune di Genova, the municipality of Genoa has announced plans to acquire EUR471 million in funding to develop a 40.5-km-long network, which will include development of four new lines with reserved lanes and deployment of 145 battery–electric trolleybuses.

• Coventry VLR project receives funding from WMCA for track system, UK

  May 1, 2020
  The very light rail (VLR) system project in Coventry has received GBP1.5 million from the West Midlands Combined Authority (WMCA) to develop a low-cost light rail track system.

• DfT allocates emergency funding for tram networks, UK

  April 28, 2020
  The Department for Transport (DfT) has allocated a multi-million pound emergency funding package for tram networks across England.

• Estonia joins Three Seas Initiative Investment Fund [free access]

  April 17, 2020
  Estonia has joined the Three Seas Initiative Investment Fund (3SIIF) that was created to finance infrastructure projects in the energy, transport, and digital sectors in central and eastern Europe.

• NCBR awards co-financing contract for electric bus project, Poland

  April 3, 2020
  Narodowe Centrum Badań i Rozwoju (NCBR), the national centre for research and development in Poland, has awarded a PLN5 million co-financing contract to a consortium comprising of Łukasiewicz–Przemysłowy Instytut Motoryzacji and Autosan for a project on deploying electric buses with rear, external, and electric drive systems.

• Follo Line project cost increases, Norway

  March 31, 2020
  The Ministry of Transportation and Communications in Norway has announced in its parliamentary report that rail infrastructure project costs are expected to increase.

• Croatia secures funding for rolling stock modernisation

  March 22, 2020
  Croatia has secured EUR119.3 million through the European Union’s (EU’s) Cohesion Fund for the procurement of 21 new electric trains as part of a project to modernise the country’s railway infrastructure.

• European Commission allocates funds for Madrid–Lisbon HSR project [free access]

  March 20, 2020
  The European Commission has allocated EUR265 million in funding through the European Regional Development Fund for the section of the planned Madrid–Lisbon high-speed rail (HSR) line on the Atlantic Corridor.

• Porto Metro secures EU’s Cohesion Funding for extension, Portugal

  March 20, 2020
  Porto Metro has secured EUR107 million through the European Union’s Cohesion Fund for the extension of the Yellow metro line from Santo Ovídio to Vila d ́Este.

• Poland secures EU funding for rail projects

  March 20, 2020
  Poland has secured funding from the European Union (EU) for various urban rail projects across the country.

• UK Government to invest in Midlands Rail Hub and Tyne & Wear Metro [free access]

  March 11, 2020
  The Government of the UK has announced a budget of GBP20 million to develop an Outline Business Case for the Midlands Rail Hub, and proposed GBP2 billion for improvements to increase rail capacity and service frequency between cities and towns across central England.

• Alstom signs MoU to acquire Bombardier Transportation, France

  February 17, 2020
  Alstom has signed a memorandum of understanding (MoU) with Bombardier Incorporated and Caisse de dépôtet placement du Québec (CDPQ) to acquire Bombardier Transportation.

• Start Romagna to procure 160 buses under its Business Plan 2020–2023, Italy

  February 16, 2020
  Start Romagna, public transport manager in Romagna, has announced a Business Plan2020–2023, which involves investment of EUR44.3 million.

• UK Government approves HS2 project; allocates GBP5 billion for bus infrastructure

  February 12, 2020
  The Government of the UK has approved the continuation of work on the High Speed 2 (HS2) project. The project is being developed in three phases. Phase Onewill span from London to West Midlands.

• BSTDB finances Fahrettin Altay–Narlıdere Light Rail Line in Izmir, Turkey

  February 8, 2020
  The Izmir Metropolitan Municipality has signed a EUR50 million financing agreement with the Black Sea Trade and Development Bank (BSTDB) for the Fahrettin Altay–Narlıdere Light Rail Line Project.