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

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North America

WMATA unveils capital needs of USD25 billion; launches wireless services on the Red Line [free access]

April 19, 2017
The Washington Metropolitan Area Transit Authority (WMATA) has stated that it has total unfunded capital needs of USD25 billion and requires USD15.5 billion over the next 10 years for critical capital projects.

MBTA FY 2018 operating budget deficit 10 times lower than projection 

April 13, 2017
The Massachusetts Bay Transportation Authority’s (MBTA) Fiscal and Management Control Board (FMCB) has approved the USD1.989-billion FY2018 (2017-18) operating budget.

Canadian government allocates CAD1.8 billion for GO RER 

March 31, 2017
The federal government in Canada has allocated CAD1.8 billion to the GO Transit Regional Express rail (GO RER) project from the New Building Canada Fund.

SEPTA proposes FY18 capital budget and 12-year capital programme 

March 27, 2017
The Southeastern Pennsylvania Transportation Authority (SEPTA) has released the USD727.2-million proposed in the fiscal year (FY) 2018 capital budget and the USD7.3-billion 12-year capital programme.

Latin America

São Paulo Metro investment reduced in 2016, Brazil 

April 13, 2017
Companhia do Metropolitano de São Paulo (CMSP), the operator of the São Paulo metro rail system, has announced that the metro rail system received funding of USD743.01 million in 2016, which is 30 per cent less than the 2015 allocation.

São Paulo plans to develop inter-city rail, Brazil 

March 30, 2017
The Government of São Paulo has announced plans to develop a 431-km long inter-city passenger rail network at an investment of USD5.5 billion.

Mexico government to invest USD253 million to upgrade the public transport system 

March 14, 2017
Mexico’s Government has announced plans to invest USD253 million to upgrade the country’s public transport system.

Funds secured for Panama Metro rolling stock [free access]

March 9, 2017
Panama’s Ministry of Economy and Finance has signed a loan agreement worth USD137.33 million with three international entities including ING Bank and Citibank for the procurement of 70 new cars for the metro network.

Asia Pacific

BMTA scraps NVG contract with Bestlin, Thailand 

April 12, 2017
The Bangkok Mass Transit Authority (BMTA) has scrapped the THB1.3-billion bus supply contract with Bestlin Group because the latter failed to complete delivery before December 29, 2016.

Cebu BRT PPP secures funds for feasibility study and transaction advisory, Philippines 

April 6, 2017
The Project Development and Monitoring Facility has approved funding to conduct a feasibility study and secure transaction advisory services for the operations and management of the Cebu bus rapid transit (BRT) project.

EIB sanctions second tranche of loan for Lucknow Metro, India 

April 5, 2017
The European Investment Bank (EIB) has signed an agreement with the Government of India to sanction INR17.52 billion (EUR250 million) funds as Tranche-2 of the loan for the Lucknow Metro.

JICA extends INR20 billion loan for Chennai Metro, India [free access]

April 3, 2017
Japan International Cooperation Agency (JICA) has extended a INR20-billion official development assistance (ODA) loan for Chennai Metro.


TCDD to invest TRY586 million for new rolling stock in 2017 

April 19, 2017
The Turkish State Railways (TCDD) has announced plans to invest TRY586 million for acquiring new locomotives and railcars in 2017.

Bombardier-Siemens merger considered to improve competitiveness [free access]

April 12, 2017
A merger between Bombardier Transportation and Siemens Mobility, the railway equipment manufacturing divisions of Canada-based Bombardier and Germany-based Siemens, is under consideration to compete with China's CRRC Corporation, which is rapidly gaining world market share.

EIB sanctions EUR400-million Tranche-2 loan to SNCB for rolling stock [free access]

April 5, 2017
Belgian railway operator Société Nationale des Chemins de Fer Belges (SNCB) has secured an overall loan of EUR600 million from the European Investment Bank (EIB) to modernise its rolling stock.

EIB to partially fund Liège Tramway PPP, Belgium [free access]

March 27, 2017
The European Investment Bank (EIB) has announced plans to lend EUR210 million to Société Régionale Wallonne du Transport (SRWT) for the planned Liège tramway system in Belgium.

Middle East & Africa

Nigeria secures loan from EXIM bank for rail projects 

April 6, 2017
The Government of Nigeria secured a USD6.1-billion loan from Export-Import (EXIM) bank of China to complete its ongoing rail projects by 2019.

AFD to fund Al Raml tram in Alexandria, Egypt 

March 30, 2017
France-based Agence Francaise de Developpement (AFD) has announced plans to allocate USD107.87 million for the upgradation of Alexandria Tram system (also known as the Al Raml Tram) in Egypt.

Abuja LRT secures funding for Phase II; awards contract to CCECC 

March 23, 2017
The Federal Capital Territory (FCT) in Nigeria has awarded a three-year, USD1.79-billion management contract to China Civil Engineering Construction Corporation (CCECC) for the light-rail transit (LRT) system Phase II in Abuja.

Lagos to invest in bus fleet upgrade, Nigeria 

March 16, 2017
The Lagos city government has announced plans to invest USD97 million in replacing its existing Danfo buses (yellow buses) with 5,000 air-conditioned buses over a period of three years.