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Finance January 2008

24 Jan 2008

Bulgaria: BDZ has placed a €120m bond issue to fund debt repayment and wagon upgrades. Further issues are planned under a programme running to 2017.

Canada: The federal government has announced a C$27m contribution to the C$93m Asia-Pacific Gateway & Corridor Initiative which includes the construction of a CPR intermodal terminal near Regina, Saskatchewan.

Mexico: The 2007-12 investment programme unveiled by the federal Secretariat of Transport & Communications on December 13 includes 496m pesos for a railway safety programme. New bridges will replace level crossings and warning systems will be improved at other locations.

Mongolia: Gazprombank has provided Ulaanbaatar Railway with a $7m credit for the acquisition of locomotives.

Mozambique: The Limpopo line from Maputo to Zimbabwe which was badly damaged by floods in 2000-01 is to be rehabilitated during 2008 using a €4m loan from the European Union.

South Africa: Transnet expects to issue further bonds early in 2008 to fund its port and rail upgrade programme. Its 2007 10-year and 20-year bonds totalling R2·5bn were substantially oversubscribed.