Rail manufacturer Alstom announced Tuesday that it has signed a partnership with Canada’s export credit agency to finance up to €2.3 billion in customer projects aimed at making transportation “more sustainable.”
This three-year “strategic partnership” with Export Development Canada (EDC) aims to “promote investment in clean mobility around the world” and will provide “export financing and export credit insurance support for mobility projects led by Alstom’s customers up to a maximum of C$3.5 billion (€2.3 billion),” the release said.
Expanding into Canada
“At a time when our customers around the world are increasing their investments in sustainable mobility, this partnership marks an important step in Alstom’s strategy to […] provide them with the most relevant and competitive financing solutions to develop their projects,” commented Laurent Martinez, Alstom’s chief financial officer, quoted in the release.
“The demand for greener, more sustainable mobility is growing around the world” and “through our partnership, EDC’s financing and insurance solutions will enable Alstom to expand its presence in Canada and around the world to meet the rapidly changing demographics and increasing urbanization while preserving the environment,” added Sven List, Senior Vice-President, Canadian and International Large Businesses at EDC.
Under the partnership, EDC “will focus its financial support on digital rail systems, services and projects based on low-emission technologies for freight or passengers such as direct electrification, hybrid, battery or hydrogen propulsion.” “Finally, Alstom and EDC agree to explore other opportunities for green investments by Alstom in Canada,” it says.
