VIA Rail is analyzing the possibility to raise EUR 2.2 billion from the private sector. The money would be used to build dedicated passenger tracks from Toronto to Ottawa and Montreal. The funds could be raised under public-private partnerships or through the sale of bonds.
VIA Rail will submit this plan to the federal government, its main shareholder, later this year. If the plan is approved, VIA Rail could be raising money in 2016. The dedicated passenger tracks could be finished in four to seven years.
“We think there is enough money in the Canadian market to fund this type of investment,” said Yves Desjardins-Siciliano, VIA Rail’s president and chief executive officer. “It’s an excellent time to raise money for infrastructure,” Desjardins-Siciliano added, referring to low interest rates.
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