This week’s news from the global railway supply chain.
The International Forum for Railway Reactivation organised by Development Bank of Latin America & the Caribbean in Bogotá and brought together institutional leaders, international experts and high-level government representatives to discuss railway plans in the region. Speakers included Ineco’s President Sergio Vázquez Torrón, who said there is no single recipe for development and each country must build a system adapted to its needs and based on its particular characteristics. Nevertheless, universal issues include the need for strategic planning, technical and political consensus, interoperability and standardisation and the need for public funding for complex and transformative projects.
Export Credit Insurance Corp of South Africa is to apply a discount of up to 20% to its risk premium when underwriting rolling stock financing when the Luxembourg Rail Protocol is in force in the state of the debtor/lessee. ‘The Luxembourg Rail Protocol is a game-changer for Africa’s rail industry’, ECIC Acting Chief Executive Officer Ntshengedzeni Gilbert Maphula said on August 27. ‘By aligning financing structures with global best practice, it not only strengthens investor confidence but also positions South African exporters to play a leading role in supplying the continent’s rail revolution. The ECIC is committed to supporting exporters in seizing these opportunities through innovative export credit solutions.’
Alstom has appointed Gustavo Mateos as Managing Director of its Signalling, Infrastructure & Railway Safety Unit for Spain and Portugal, based at Alstom’s centre of excellence in Madrid. He joined Alstom in 2015 as Head of Operations in the signalling unit, and in 2017 took on the role of Project Director.
Texmaco Rail & Engineering and state-owned Rail Vikas Nigam Ltd have formed a 49:51 joint venture to produce locomotives and freight and passenger rolling stock, including metro trains for the Indian and export markets.
Conduent has completed a refinancing of its existing term loan and revolving credit agreements. ‘This transaction provides the right mix of debt instruments to support our operations and capital allocation strategy’, said CFO Giles Goodburn.