Renta 4| Renfe has extended the maintenance contract for Talgo’s high-speed trains (TLGO) until 2027. This contract extension is worth €180 million. The contract is expected to be signed and formalised in the coming weeks. Assessment: This contract extension represents ~7% of the order book at the end of June. It is a positive transaction that allows the company to strengthen its order book.
Link Securities| Talgo (TLGO) will make the first units of the Talgo Avril very high-speed train available to Renfe in November. According to a statement by the company on Tuesday, they will be ready to go into commercial operation. In this sense, Talgo has indicated that the November date will be reached “provided that the other actors involved in this process comply with the deadlines they have provided Talgo with…
The president of Renfe, Isaías Táboas, and the Secretary of State for Transport, Isabel Pardo de Vera (former president of ADIF, the company that owns the railway network) have left their posts yesterday, after the major scandal that Renfe, to cover the service of the Spanish north coast, had ordered 31 trains with such dimensions that they did not fit through the tunnels of the route: https://bit.ly/3YSJvIj The fact was…
The agreement between Renfe Operadora and Central Texas reached in 2019 to develop the first high speed project in the US, that will link the cities of Houston and Dallas / Fort Worth, in the State of Texas. The contract will involve a turnover of 6,000 million dollars for the Spanish railway operator, the largest industrial contract of a Spanish company abroad, along with that of the AVE to Mecca.
Spain was the second country in the European Union to receive the most funding from the European Investment Bank (EIB) in 2019, with €8.96 Bn for 92 projects. This was 6% more than in 2019, the entity’s Vice President, Emma Navarro, explained on Monday during the presentation of the EIB’s results in Spain. The EIB allocation of €2.24 Bn for the fight against climate change, 75% more than the previous year, makes Spain also the second country in Europe in terms of climate financing.
The launch of a cheap AVE, together with digitalization and internationalization, is one of the pillars of the strategy which Renfe is developing to prepare for competition from operators such as France’s SNCF, which plans to introduce its low cost AVE ‘Ouigo’ in Spain.
Renfe could be working on opening an office in the US to pursue opportunities to enter the passenger train market. The initiative is part of the public operator´s internationalisation strategy, aimed at securing new sources of income in case of possible losses in the Spanish market when passenegr traffic is opened to competition in 2020.
Renfe announced that it posted net profit of 70 million euros in 2017, its first ever profits without including extraordinary ítems.
Julián García Valverde founded Imathia and Consultrans, engineering, consultancy and construction companies. They form part of the consortium of 12 Spanish firms which won the contract for Mecca-Medina AVE high-speed train line. On December 31, it crossed for the first time the 453 kms that separate both cities at 300 km/hour in some parts.
In 2020, rail passenger traffic will be opened up to the competition in Spain. Looking ahead to this situation, Renfe will launch a new low-cost, intelligent AVE high-speed train. This will be called EVA and it will have all the new technologies, while tickets will be between 20% and 25% cheaper.