Peru lands second metro loan

Peru has secured additional funding for its US$5.8 billion Lima metro line No.2 project, which is due to be completed by 2020. Just a day after receiving a US$750 million from the Inter-American Development Bank (IDB), Caracas-based lender CAF agreed to lend a further US$150 million, the third loan it has granted the initiative. "This approval complements the support CAF has been providing Peru in the search for urban transport solutions," CAF president Enrique García said in the statement. The L
December 11, 2014 Read time: 2 mins

Peru has secured additional funding for its US$5.8 billion Lima metro line No.2 project, which is due to be completed by 2020. Just a day after receiving a US$750 million from the 5982 Inter-American Development Bank (IDB), Caracas-based lender CAF agreed to lend a further US$150 million, the third loan it has granted the initiative.

"This approval complements the support CAF has been providing Peru in the search for urban transport solutions," CAF president Enrique García said in the statement.

The Lima metro is "a hi-tech, non-polluting transport system that will help improve living standards of the inhabitants of this city," he said.

The metro, which has already awarded studies for a third line, is Latin America's largest infrastructure project, Peru's President Ollanta Humala said.

A consortium made up of Spain's ACS and FCC, Italian companies Impregilo and AnsaldoBreda and Peru's Cosapi, which was awarded the 35-year concession in March, will build 35 kilometres of tunnels and 35 underground stations.

For more information on companies in this article

Related Content

  • Siemens to modernise metro line in Peru
    January 4, 2017
    Siemens is to provide the complete traction power supply for the first section of metro line 1 in Lima, which covers around nine kilometres. The modern power supply, upgrading of existing overhead contact line system and modifications to electrification in the depots will increase both the availability and the cost-effectiveness of the rail route. The upgrade will be carried out during ongoing operation. Lima's first metro line was completed in 2011, covering around 21 kilometres. The line connects the s
    Read More
  • IBTTA summit hits right notes in Salzburg
    December 5, 2018
    In the birthplace of Mozart, Colin Sowman found that delegates at the IBTTA’s inaugural World Tolling Summit were playing a variety of interesting tunes The first World Tolling Summit took place in Salzburg, Austria this autumn. Created and organised by the International Bridge Tolling and Turnpike Association (IBTTA), the event was supported by its European counterpart Asecap and hosted by Austria’s tolling authority, Asfinag. The transfer of views, experience and practice both ways across the Atl
    Read More
  • Confusing funding and financing can be costly
    September 23, 2014
    Tolling may be the way forward for paying for the roads of the future - but where will concessionaires find the money and do they need funding or financing? Increasingly, governments around the world are concluding that they can no longer pay for new roads and are turning to the private sector for help.
    Read More
  • Crossrail project receives US$814 million EIB funding
    December 16, 2013
    The European Investment Bank (EIB), Europe’s long-term lending institution, has provided further funds to support the latest step in Crossrail’s development with a loan of up to US$814 million to Transport for London (TfL). The facility will be used for financing a fleet of new high-capacity air-conditioned trains as well as a new maintenance depot. Finance contracts were signed in London this week by Steve Allen, TfL’s Managing Director Finance and Jonathan Taylor, European Investment Bank Vice President.
    Read More

Highlighted Content