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

  • Elon Musk’s underground movement
    August 3, 2020
    The Boring Company is building tunnels under various US cities – but for what? Kristina Smith delves deep into a project which may (eventually) have real appeal for mass transit providers and transportation agencies
    Read More
  • Europe’s EasyWay project accommodates political requirements
    May 29, 2013
    The EasyWay project has evolved to take account of political developments at the European level. By Jason Barnes The European Union’s (EU’s) EasyWay ITS deployment project has its roots in the ambitions of former European Commission President Jacques Delors with regard to truly international networks for energy, information and for transport. Definition of what became known as the Trans-European Transport Network (TEN-T) began back in 1994 with seven working groups. They produced an R&D and policy framework
    Read More
  • CEF funds to be used for EFSI ‘only as a last resort’
    April 17, 2015
    Parts of the European Commission’s proposals for the European Fund for Strategic Investments, which foresee the reallocation of US$3.5 billion from the Connecting Europe Facility to provide a part of the US$17 billion for the guarantee fund should be deleted, Transport MEPs suggested in their opinion approved on Tuesday. This target amount should instead be met by gradual budgetary commitments to the guarantee fund to be decided in the frame of the annual budgetary procedure, they add. Instead of cuttin
    Read More
  • Cooperative infrastructure - the future for tolling?
    February 2, 2012
    Leading European tolling solution providers give a snapshot of how they think tolling's technological future will look
    Read More

Highlighted Content