Canadian rail networks prepare for shut down
NewsAs Canada heads towards a nationwide rail strike CN and CPKC have stopped accepting certain cargo types as they prepare their Canadian networks for a full shutdown.
RIVE orders new locomotives
Paris-based RIVE Private Investment has secured €300M in bank financing for the acquisition of 55 ‘innovative’ railway locomotives from three different manufacturers.
The engines will be delivered between 2024 and 2026 and they will be managed by RIVE’s long-time partner/asset manager Northrail of Hamburg. They will add to its portfolio of around 445 locomotives, other train units and rolling stock that are leased to European operators.
The orders comprise:
● 15 Vectron Dual-Model locomotives from Siemens Mobility. These were actually ordered before the current financing deal.
● 20 Traxx MS3 locomotives from Alstom – these are the first of their type to be homologated in France and they can operate in six European countries including Germany and Poland.
● 20 Modula EBB hybrid locomotives from Vossloh, the first order for this new type of locomotive.
The financing platform comprises an existing CAPEX facility by KfW IPEX-Bank and Siemens Financial Services through Siemens Bank for the Siemens Mobility order. A new CAPEX facility was organised by KfW IPEX-Bank, Crédit Agricole CIB and Société Générale for the Alstom and Vossloh orders.
RIVE’s investments are focused on transport assets and infrastructure dedicated to energy transition, the latter of which is channelled through RIVE’s RTAIF fund. Currently, this has €200M in investments across 10 OECD
countries with rail accounting for about 40% of transactions.
Northrail’s rolling stock inventory represents an investment of over €1.4B with the fleet featuring electric and hybrid locomotives and battery-electric regional trains. In addition, the company manages traditional shunting and universal locomotives. Northrail also organises the maintenance of its leased-out vehicles.
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This complete item is approximately 280 words in length, and appeared in the December 2023 issue of WorldCargo News, on page 8. To access this issue download the PDF here
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