Japanese Goverment may Provide Funding Hitachi

Japanese Goverment may Provide Funding Hitachi
November 19, 2010 8:50 am

The Japanese Government may provide funding for Hitachi’s bid for a UK high-speed rail project.

The government would give a loan through the Japan Bank for International Cooperation to a proposed railcar-leasing company that Hitachi would establish, partnering with a British general contractor.
Hitachi may receive a loan involving Japanese private-sector financial lenders, according to the Nikkei.
The £7.5bn ($11bn) project includes replacing ageing rail cars on Britain’s existing high-speed rail network with new ones, supplying a maximum of 1,400 cars between 2013 and 2018, as well as maintenance.
Hitachi has obtained priority rights to negotiate on the project and is waiting for the UK Government’s approval to proceed with the plan.

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