QUICK WORK FOR GRANDE VITESSE
To attract public and private financing for its latest high-speed train, Societe Nationale des Chemins de Fer Francais (SNCF), the French national railway, worked out an innovatory scheme.
It is establishing an independent entity to finance the proposed $1 billion Atlantique network, which will serve the country’s west coast. This financing instrument will enable the railway to tap the coffers of the major cities along the route of the TGV (train de grande vitesse) and keeps these loans off SNCF’s overburdened balance sheet.
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