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Finance

01 Jun 1997

Denmark: The European Commission has granted a DKr1·6bn loan to Øresundskonsortiet and A/S Øresund.

France: The Ministry of Transport is to invest Fr350m in intermodal freight development during 1997, with SNCF receiving Fr300m to improve services and Fr50m to upgrade terminals. State funding of Fr96m has been provided for a new terminal at Hourcade, on the southern outskirts of Bordeaux, which is scheduled to open in 2001.

India: Konkan Railway Corp is planning to raise $150m through a syndicated term loan on the international market; much of this will be used to repay earlier higher-cost loans.

Japan: On April 11 JR Central made advance application for stock listing on the Nagoya, Tokyo, Osaka and Kyoto exchanges; Nikko Securities has been appointed to supervise the proposed public stock offering in October in place of Nomura Securities.

Latvia: LDZ has announced a US$350m five-year investment plan; infrastructure upgrading will account for 75% of the total expenditure.

Lithuania: LG has secured a further Ecu40m loan from the European Investment Bank, which will be used to fund modernisation of signalling and telecommunications on the 125 km Kaisiadorys - Radviliskis line, and to buy five locos.