Infrastructure fund Antin is set to invest 1 billion euros in Proxima, a new independent high-speed train operator in France, co-founded by Rachel Picard and Tim Jackson. Proxima’s high-speed trains will connect Bordeaux, Rennes, Nantes and Angers to Paris.
Proxima aims to challenge SNCF
Proxima will strengthen the offer available to high-speed rail travellers in France, providing more than 10 million new seats per year in a much-needed boost to capacity. Travel between key cities in France has increased over the last ten years, reflecting new ways of living. High-speed rail is the answer favoured by the French, and train occupancy levels are at all-time highs.
Although France has one of the most extensive high-speed rail network in Europe, few private operators have managed to break through SNCF’s monopoly. France has some of the highest prices paid by operators to maintain the lines, which has driven prices up.
Proxima will initially connect four important destinations in the west of France (Bordeaux, Nantes, Rennes, and Angers) with Paris. These routes have demonstrated particularly strong demand in recent years, driven by dynamic economic and business trends, as well as leisure travel and demographic growth.
“Societal, climatic and territorial issues are at the core of our project. We want to help the French public take the train more, by offering them an alternative solution, which is easy, quick, and integrated into their new lifestyles.
Thanks to Antin, we will have all the necessary resources to carry out this exciting project for the benefit of travellers.” – Rachel Picard, General Director and co-founder of Proxima
1 billion euros for Proxima
Proxima will be fully financed by Antin Infrastructure Partners, an investment company based in Paris and among the world leaders in infrastructure investment with 31 billion euros of assets under management, and supported by a consortium of leading French and international banks.
The first phase of Proxima’s development will involve an investment of around one billion euros, which will be used for the purchase and maintenance of rolling stock, operational launch costs, and working capital requirements.
Alstom to provide 12 Avelia Horizon trainsets
For the fleet and its maintenance, Proxima has chosen the expertise of French manufacturer, Alstom, and has entered into exclusive negotiations for an order of 12 Avelia Horizon trainsets (with the option to acquire additional trainsets in the future).
With more capacity, an increased level of customization (both in comfort and design), and consuming less energy, the Avelia Horizon is Alstom’s brand new high speed train model and represents the future of rail.
“We are happy to embark on this entrepreneurial adventure with first-rate, French industrial partners, to build a robust and quality offer, and further accelerate the development of green mobility in France.” – Tim Jackson, co-founder of Proxima.
The first train is planned to roll out for dynamic testing in early 2027.
Proxima has also reached an agreement with Lisea, concessionaire of the South Europe Atlantic High Speed Line, for the use by Proxima and Alstom of its new maintenance and stabling depot located in Marcheprime, 20 kilometres south of Bordeaux.
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