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4/30/08: Jude Webber In Buenos Aires: Argentina, Alstom in high-speed train deal

Financial Times:

Published: April 30 2008 00:07 | Last updated: April 30 2008 00:07

Argentina on Tuesday signed a contract with a consortium led by Alstom of France to build the first high-speed train in the Americas, linking Buenos Aires with the cities of Rosario and Córdoba in three hours, nearly a fifth of the current journey time.
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The total project, financed by French bank Natixis, will cost some $3.7bn and Argentina will issue 30-year debt. Alstom's share of the project is worth around $1.7bn. The project is five to eight times cheaper than similar ones in France or Spain, Alstom says.

Eight double-decker trains, with a capacity to hold 509 passengers each, will travel at a maximum 320 kph (200 mph), linking Buenos Aires and the city of Rosario, a major port, and the city of Córdoba.

Alstom, which says Argentina's flat pampas are ideal terrain for a high-speed train, is aiming for 1.5m passengers a year and is confident the total will be higher.
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"This is a very symbolic and high-profile project but I think it will be accompanied by other projects," Mr Kron said. Argentina is preparing a tender for a similar high-speed link to the seaside resort of Mar del Plata.