EDC helps $1.2B SAfrica Bombardier rail deal
EDC is providing South Africa's national rail operator with a US$450-million loan to finance a major purchase of rail equipment from Quebec-based Bombardier.
OTTAWA — Export Development Canada is providing South Africa’s national rail operator with a US$450-million loan to finance a major purchase of rail equipment from Quebec-based Bombardier.
The rail operator, Transnet, recently awarded a US$1.2-billion contract to Bombardier Transportation South Africa Ltd. for the delivery of 240 TRAXX dual-voltage locomotives.
The EDC, a Crown corporation that helps Canadian companies develop export opportunities, said the Transnet the deal with Bombardier helps to “showcase Canadian capability to build and deliver on landmark projects worldwide.”
“South Africa offers significant opportunities for Canadian companies, especially those in the business of infrastructure,” said the EDC’s Carl Burlock, senior vice-president, financing and investments.
It noted that South Africa has been identified by the federal government as a strategic market for Canada and is also considered a priority by the EDC, which expects to have permanent representation in Johannesburg by this summer.
© 2015 The Canadian Press