Canadians buy high-speed rail for US$3.4 billion

THE 68-mile high-speed rail link (HS1) from central London to Folkestone has been bought by a Canadian consortium of Borealis Infrastructure and the Ontario Teachers' Pension fund beating rival bidder Eurotunnel to win the 30-year concession for GBP2.1 billion (US$3.4 billion).

In a report from London's Financial Times, Transport Secretary Philip Hammond said the sale was "a big vote of confidence in UK plc and a big vote of market confidence in the future of high speed rail."

The HS1 link into central London location at St Pancras Station, home of the Eurostar trains to Paris and Brussels, and Southeastern's high-speed train to Ramsgate, Kent has been touted as a potential freight link by Eurotunnel.

The UK government sale to the consortium topped its anticipated price of GBP1.5 billion to GBP2 billion.
(Source:www.schednet.com)