Financial news
Transnet secures $US 5bn Chinese loan T
HE China Development Bank has agreed to lend
Transnet, South Africa, approximately $US 5bn to support its planned railway infrastructure rehabilitation programme which is worth more than Rand 300bn ($US 33.82bn) over the next seven years.
The five-year agreement was signed on March 26 on the sidelines of the fifth Brics Summit held in Durban and includes cooperation on local manufacturing of equipment especially for the rail and ports sectors. The deal also includes a collaborative agreement on future research and
development initiatives, manufacturing, marketing and the construction of cross- border infrastructure throughout the African continent. “The agreement will enable us to explore innovative funding options as we pursue our borrowing plan, focusing
Bombardier to supply more ICx components S
IEMENS has awarded Bombardier a É336m contract to supply bodyshells and bogies for a batch of 170 ICx high-speed coaches ordered by German Rail (DB) under a framework agreement with Siemens. Production of the steel car bodies will start in Bombardier’s Görlitz plant this summer, while the Flexx Eco trailer bogies will be produced in Siegen. Bombardier will also conduct final assembly of up to two intermediate coaches per
RZD signs electric locomotive MoU
S
IEMENS, and its joint venture partner Sinara, have signed a memorandum of understanding (MoU) with Russian Railways (RZD) for the supply of 350 four-axle electric locomotives.
DB orders emus for Main-Spessart route: German Rail (DB) has placed a É113m order with Bombardier for 12 Twindexx Vario double-deck emus, which will be used by DB Regio on Main-Spessart Regional Express services from Frankfurt to Würzburg and Bamberg from 2015. Delivery of the 160km/h four-car trains will begin in the second half of 2015 and each set will be formed of two powered and two trailer vehicles. DB says introduction of the trains will provide a 25% increase in peak seating capacity on the route.
The MoU was signed at the Hannover Fair by RZD president Mr Vladimir Yakunin, the president and CEO of Siemens Mr Peter Löscher, and Sinara president Mr Dmitri Pumpyansky. The contract, and a separate maintenance agrrement, are expected to be signed next year with a view to delivering the locomotives by 2020, and follows a similar MoU for 675 type 2ES10 units signed in December 2012.
The locomotives will be built by Ural Locomotives, the Siemens-Sinara joint venture, at its plant in Yekaterinburg.
HE PCM Group, India, has acquired Rail.One,
Germany, bringing to an end the latter’s search for a strategic investor.
Rail.One specialises in the design and production of concrete sleepers and ballastless track including
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Rheda 2000 concrete slab track for high-speed lines, Rheda City for light rail applications, and Getrac asphalt track. Last month, Rail.One announced plans to invest É15m to set up a concrete sleeper plant in Clinton, Iowa, and a US subsidiary.
PCM also produces concrete sleepers for the Indian market, where it has three plants, while it has a heavy-haul concrete sleeper plant in Saudi Arabia which has supplied sleepers for the North-South Railway project. The company also produces turnouts and level
on cost-effective solutions and diversity,” says Mr Brian Molefe, Transnet chief executive. Transnet says it is raising the funds for its investment programme through a combination of internal resources and money raised in capital markets.
train and all of the end cars at its Hennigsdorf plant north of Berlin starting in spring next year. DB signed the original framework contract for up to 300 ICx trains with Siemens in 2011, and Siemens in turn awarded Bombardier a framework contract for components. The first firm order was for an initial batch of 130 trains. The ICx trains are due start entering service in 2017 and will replace locomotive-hauled inter- city trains.
EC approves Siemens’ Invensys Rail acqusition
T
HE EUROPEAN Commission has cleared Siemens’ $US 2.8bn acquisition of Invensys Rail following an investigation into the potential effects of the takeover on the railway signalling market, which concluded the transaction would not adversely affect competition. The EC says its investigation confirmed that Invensys Rail and Siemens are not close competitors and that the merged entity would continue to face competition from a number of other strong players in the signalling market, including Alstom, Ansaldo STS, Bombardier, and Thales.
The Commission looked at the possible impacts of the acquisition in the markets for both signalling projects and products in the mainline and mass transit sectors in the European Economic Area as a whole and the specific member states where Siemens and Invensys are most active. It concluded that the two companies had geographically complementary activities, and that signalling customers would continue to enjoy “significant buyer power” following the merger.
Indian group PCM acquires German track specialist Rail.One T
crossings, and conducts flash- butt welding of rails.
“This is a giant step for PCM
Group and this acquisition has made us the world’s leading conglomerate in railway infrastructure,” says Mr Kamal Kumar Mittal, chairman of PCM Group.
IRJ May 2013
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