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Finance

01 Jan 2006

Argentina: Neuquén provincial legislature has approved a programme to issue up to US$250m of bonds to finance infrastructure projects, including the southern rail crossing of the Andes (RG 2.05 p61) where the first 7 km from Zapala towards the Chilean border has been completed.

Brazil: President Lula has authorised the release of R673m for urban transport projects, including metro construction in Salvador and Fortaleza.

Canada: The government has announced initial funding of C$110m for an Immediate Action Plan to enhance transport security, and create a RideSecure programme focusing on commuter rail and metros.

CN has adopted a capital budget of C$1·5bn for 2006, up 9% on 2005. C$800m will go towards infrastructure, C$325m on locos and rolling stock and C$250m on productivity and strategic projects, including longer passing loops in western Canada, expansion of the Prince Rupert corridor and reconfiguration of Johnston Yard in Memphis.

France: A €200m EIB loan to the Rh