China finances rolling stock in Argentina

China finances rolling stock in Argentina

Loans Project & Infrastructure Finance Argentina

The China Development Bank (CDB) has granted a $236m loan to fund the purchase of rolling stock for a commuter rail project in Buenos Aires.

Argentina's transportation ministry will use the money to cover 85% of the costs of a $277m rolling stock agreement with the Chinese manufacturer CRRC.

The state-owned passenger rail company Trenes Argentinos will buy 200 electric wagons from CRRC for $1.18m each as part of an agreement signed in April last year.

The new cars will allow Trenes Argentinos to increase ridership on the Roca commuter line by 20%, according to the government. The line currently carries an average of 600,000 passengers per day.