Brazil:Railway projects have been allocated 4·5% of the US$13bn that the federal government is to invest through its 2003-07 transport infrastructure programme, hoping to attract a further US$13·96bn from state development bank Bndes, international funding organisations and the private sector. New legislation now allows infrastructure projects to be taken forward as public-private partnerships.
China: The Kuwait Fund is to provide a US$3·5m 18-year loan towards the construction of a 116 km Hohhot - Xuejiawan line in Inner Mongolia.
Estonia:ER reported a net profit of 347m kroons on revenues of 1·76bn kroons during 2003. Share dividends totalled 96·2m kroons.
France:According to Managing Director Michel Gonnet, C3D is looking to reduce its stake in Transdev from 68% to 40%, with flotation of the passenger transport operator a possibility within two years. The remaining shares are held by RATP (25%) and Italian bank Sanpaolo IMI (7%).
UK venture capital firm 3i has begun negotiations to take a controlling stake in Keolis, for which it has offered €500m. The public transport operator is currently owned by Paribas Affaires Industrielles (48·7%), Vivendi Universal (7·8%) and SNCF Participations, which is looking to retain at least a 40% share.
Japan:The privatisation of JR West was completed on March 24 with the sale of the 31·7% of the shares held by the government’s Japan Railway Construction Transport & Technology Agency.
Russia:International Finance Corp is to provide credit worth US$40m to the Severstal steel group’s transport subsidiary Severstaltrans for the purchase of locomotives and tank wagons.
Spain:European Investment Bank is to lend €260m to the consortium that is to build and operate Sevilla metro Line 1 (RG 4.03 p184). Andalucia regional government and four municipalities are to meet the €428·5m cost of the project over the 30-year concession, with €218·9m of central government funding to be transferred once construction is underway.
Switzerland:SBB has reported a net profit of SFr24·9m for 2003, after having made of loss of SFr12m the year before. Earnings before tax and interest were up 63% at SFr199·8m, with losses at SBB Cargo down from SFr96·1m in 2002 to SFr33·1m.
