Argentina: SUBA and Electromac have purchased a 51% stake in Trainmet for US$28m, and are looking to increase Trainmet’s half share in Metropolitano which operates the Roca, San Martín and Belgrano Sur commuter routes in Buenos Aires. The other 50% of Metropolitano is held by construction group Ormas.

Australia: BHP has negotiated a lease-back for the rolling stock of its Mt Newman and Goldsworthy railways, covering 48 diesel locos and 2224 wagons. The deal will release $A179m in cash with a profit of $A31m for BHP.

China: The city of Yingkou in Liaoning province is looking to raise foreign investment to fund work on the 146 km local railway linking Bayuquan with Dahushan on the Shenyang - Shanhaiguan line, costed at US$250m.

Czech Republic: The European Investment Bank has agreed a loan of KC2·7bn to finance metro construction in Praha.

Great Britain: Angel Train Contracts is financing the £75m purchase cost of the 70 Class 175 Coradia DMU cars being built for First North Western by Alstom Transport (p150). Angel is also taking over responsibility for maintenance under a £100m 15-year contract with Alstom Train Services.

Romania: The government has approved a financing agreement between Bucuresti transport authority RATB and the World Bank, releasing a credit of 60m euros for rehabilitation of the city’s 110 km tramway network by mid-2005.

Philippines: Japan is to finance railway and port construction with soft loans of US$387m under an agreement signed by the leaders of the two countries at the end of last year.

Turkmenistan: A loan of US$35·6m from Japan’s Overseas Economic Co-operation Fund, agreed at the end of 1997, has been ratified. The money is earmarked for TPK’s modernisation programme.

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