Finance

first_imgBrazil: Ferrovia Sul-Atlântico is planning to invest US$56m this year, despite making a loss of nearly US$19m.Canada: CP Rail is to spend C$87m on capital projects in British Columbia; C$47m will go on an intermodal terminal near Vancouver.China: The Ministry of Railways has applied for a US$300m World Bank loan to fund modernisation work.France: Transport Minister Jean-Claude Gayssot announced on July 10 that SNCF’s debt would be reduced by Fr20bn to Fr48bn, in return for recruiting an extra 2000 staff by the end of the year.Great Britain: Franchise operator Prism Rail grew revenue by 7·5% in its first 14 months, to turn in a profit of £6·9m on a £199·2m turnover; bidding and restructuring costs converted this to a loss of £5·5m.Italy: Torino is planning a local bond issue to finance an automated light metro from Collegno to Porta Nuova. Proceeds from the sale of municipal undertakings would also go towards the project.Mozambique: Portugal may grant US$15m towards rehabilitation of 77 km of the Nacala corridor from Cuamba to the Malawi border.USA: The Federal Transportation Agency awarded $11·5m to Florida’s Tri-Rail on June 20 to fund double-tracking and renovation of Deerfield Beach station.First American Railways Inc has completed a US$11·1m private placement, covering purchase of the Durango & Silverton Narrow Gauge Railroad and providing capital for the Florida Fun-Train.last_img

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