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

  • Banks' statement aims to cut road deaths
    November 23, 2020
    Pledge from world's bankers aimed at reducing the 1.25 million lives lost on roads each year
    Read More
  • Travel times halve for tolling converts
    August 5, 2013
    The Port Mann Bridge in Vancouver is a prime example of how the latest ITS systems enable new infrastructures to be built and paid for while still providing additional user benefits. Vancouver has 2.2 million inhabitants and, like so many major cities, is divided into two by a river, the Frazer river. This combination makes Vancouver the second most congested city in North America and the most congested in Canada. Through the middle of the city runs the Trans-Canadian Highway 1 which crosses the Frazer Riv
    Read More
  • Wi-Fi win-win for mass transit
    October 31, 2014
    David Crawford explores passenger and operator benefits of on-board Wi-Fi Urban commuters’ growing demand for continuous – and reliable - internet connectivity is spurring network operators into the rapid installation of high-grade Wi-Fi access on their surface and underground networks, as well as in their stations. Such moves are often a key part of strategies to maintain and increase ridership levels.
    Read More
  • Bogotá sets tentative timeline for metro tender
    February 6, 2015
    Bogotá mayor Gustavo Petro has announced that a tender for the Colombian capital's Line No. 1 metro project, which has been in the planning for a decade, could be issued by July. However, the final timeline for bidding will depend on whether the city is first able to line up financing for the project, the mayor added, according to local press reports. Building the metro line is expected to cost US$7.5 billion, or about double the previous estimates. In its current form, the metro line will extend some
    Read More

Highlighted Content