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Rail News: Passenger Rail
Canada Infrastructure Bank to invest up to CA$2B in GO Transit expansion
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.