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Finance

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


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North America


FTA withholds funds awaiting WMATA Metrorail SSOP 

February 10, 2017
The Federal Transit Administration (FTA) has withheld 5 per cent of the 2017 fiscal year (FY) transit formula funds for the District of Columbia (DC), Maryland and Virginia regions until it certifies a new State Safety Oversight Program (SSOP) for Washington Metropolitan Area Transit Authority’s (WMATA) Metrorail.

FTA allocates funds to Flint MTA to purchase 32 CNG buses 

January 11, 2017
The Federal Transit Administration (FTA) has allocated USD12.8 million to the Flint Mass Transit Authority (MTA) to purchase 32 compressed natural gas (CNG) buses.

CTA receives FTA grant for core capacity; issues new bonds 

January 9, 2017
Federal Transit Administration (FTA) has announced funding of USD1.07 billion to the Chicago Transit Authority (CTA) for Phase I of the Red and Purple Modernization (RPM) project.

San Francisco receives federal grant for Smart City PPP projects 

January 7, 2017
The United States Department of Transportation (USDOT) has announced Federal Advanced Transportation Technology Grant of USD11 million for six projects in San Francisco.



Latin America


STC Metro declares annual system maintenance costs 

February 15, 2017
Sistema de Transporte Colectivo (STC), the government body responsible for the Mexico City Metro system, has announced that it requires MXN6 billion per year to maintain the services of the metro system.

Cochabamba LRT to begin construction, Bolivia 

February 10, 2017
Spain-based Joca Ingeniería y Construcciones (JOCA) is expected to begin construction on the light-rail transit (LRT) line in Cochabamba, Bolivia, in March 2017.

Funds allocated for Quito Metro [free access]

February 9, 2017
Metro de Quito has received funding of USD660 million to construct the Quito Metro Line 1.

Colombia allocates funds for urban rail projects in Bogotá [free access]

January 31, 2017
The Government of Colombia has allocated USD5.1 billion for the development of the urban rail lines in Bogotá.



Asia Pacific


ICBC sanctions USD20-million loan for Lahore Metro, Pakistan 

February 15, 2017
The Industrial & Commercial Bank of China (ICBC) has signed a USD20-million short-term loan for the Lahore Metro Orange Line.

EIB approves loan for Bangalore Metro Phase II, India 

February 9, 2017
The European Investment Bank (EIB) has granted in-principle approval to provide a 20-year loan of INR370 billion to Bangalore Metro Rail Corporation Limited (BMRCL) for Phase II of the Bangalore Metro system, also known as Namma Metro.

Indian Union Budget 2017-18 allocates INR178.1 billion for metro projects 

February 2, 2017
The Government of India has allocated funding of INR178.1 billion in the Union Budget 2017-18 for the development of various metro rail projects.

Union Government assures financial assistance for Bangalore Metro, India 

January 18, 2017
The Union Government has agreed to provide financial assistance for Phase 2B of Bangalore Metro Rail's Airport corridor.



Europe


EIB finances MetroGuagua BRT, Gran Canaria [free access]

February 15, 2017
Las Palmas, Gran Canaria, has received a 20-year loan of EUR50 million from the European Investment Bank (EIB) to develop the 11.7-km bus rapid transit system, locally known as MetroGuagua.

Trenitalia fully acquires c2c franchise up to 2029 

February 12, 2017
Italy's main railway company Ferrovie Dello Stato Italiane S.p.A., better known by its commercial name Trenitalia, has completed the acquisition of 100-per-cent stake of the UK-based train operating company c2c, marking its entry into the UK train operating market

Trenitalia signs contract to acquire TrainOSE 

January 19, 2017
Italy's main railway company Ferrovie Dello Stato Italiane S.p.A., better known by its commercial name Trenitalia, has signed a contract to acquire full stake of the Greek railway service operator TrainOSE.

Trenitalia to acquire 100 per cent stake of c2c 

January 12, 2017
Italy's main railway company Ferrovie Dello Stato Italiane S.p.A., better known by its commercial name Trenitalia, has announced plans to acquire 100 per cent stake of the UK-based train operating company c2c, marking its entry into the UK train operating market.



Middle East & Africa


AfDB to finance Abuja BRT 

February 20, 2017
The Federal Capital Territory (FCT) in Nigeria is likely to secure a loan of USD100 million from the African Development Bank (AfDB) for development of the bus rapid transit (BRT) system in Abuja.

EXIM Bank allocates funds for Tema-Akosombo rail line, Ghana 

December 5, 2016
The Export-Import Bank of India (EXIM Bank) has allocated USD398.33 million for the design and construction of the Tema-Akosombo rail line in Ghana.

SRO to provide additional funding for Haramain HSR Phase II, Saudi Arabia 

November 22, 2016
Saudi Railways Organisation (SRO) has allocated additional funding of USD158 million for the Haramain high-speed rail (HSR) Phase II to the Al-Shoula consortium (comprising Talgo, Indra, Dimetronic, Renfe, Adif and Obrascon Huarte Lain (OHL)) to cover cost escalation due to delays in payment.

ADFD provides additional funding for Morocco HSR 

November 22, 2016
Abu Dhabi Fund for Development (ADFD) has allocated USD40 million as the second installment of the concessionary loan to the Office Nationale des Chemins de Fer Du Maroc (ONFC), Morocco's national rail operator, for construction of the 200-km high-speed rail (HSR) line between Tangier and Kenitra in Morocco.