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Earlier this week, GE Transportation Systems received a $39.5 million loan guarantee from the Export-Import (Ex-Im) Bank of the United States to export 25 4,400-horsepower locomotives to a Mexican railroad.
Grupo Ferroviario Mexicano is purchasing the diesel-electric locomotives, which will be leased to its subsidiary Ferrocarril Mexicano S.A. de C.V. (Ferromex). The 6,180-mile Ferromex moves about half of Mexico's total freight.
In 1999 — shortly after Mexico privatized its state-owned railroad system — Ferromex obtained guaranteed financing from Ex-Im Bank to purchase 50 GE locomotives.
New York-based BNP-Paribas serves as the transaction's guaranteed lender.
10/29/2004
Rail News: Rail Industry Trends
GE lands loan guarantee to sell 25 locomotives to Grupo Ferroviario Mexicano
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Earlier this week, GE Transportation Systems received a $39.5 million loan guarantee from the Export-Import (Ex-Im) Bank of the United States to export 25 4,400-horsepower locomotives to a Mexican railroad.
Grupo Ferroviario Mexicano is purchasing the diesel-electric locomotives, which will be leased to its subsidiary Ferrocarril Mexicano S.A. de C.V. (Ferromex). The 6,180-mile Ferromex moves about half of Mexico's total freight.
In 1999 — shortly after Mexico privatized its state-owned railroad system — Ferromex obtained guaranteed financing from Ex-Im Bank to purchase 50 GE locomotives.
New York-based BNP-Paribas serves as the transaction's guaranteed lender.
