Progressive Railroading

Newsletter Sign Up
Stay updated on news, articles and information for the rail industry



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.






Rail News Home Passenger Rail

5/31/2019



Rail News: Passenger Rail

Canada Infrastructure Bank to invest up to CA$2B in GO Transit expansion


The GO Transit investment is the first time the Canada Infrastructure Bank has invested almost 10 percent of its total capital.
Photo – GO Transit Twitter

advertisement

Canada Infrastructure Bank (CIB) yesterday announced it will invest up to CA$2 billion in financing to expand GO Transit in the greater Toronto and Hamilton area of Ontario.

The expansion will create a two-way, all-day rapid transit service on core segments of the GO Rail network. 

CIB will act as a financing partner and adviser to Metrolinx and Infrastructure Ontario, which are leading the competitive procurement process for the expansion.

Once a winning bidder is selected and the project reaches financial close, CIB will finalize a credit agreement, CIB officials said in a press release.

The CIB was created by the Canadian government to strategically invest CA$35 billion of federal funding to attract private sector investment into revenue-generating infrastructure projects that are in the public interest.

This is the first time CIB has invested almost 10 percent of its total capital to a project, CIB officials said.



Contact Progressive Railroading editorial staff.

More News from 5/31/2019