21st Jul 2026 14:37
(Alliance News) - International Public Partnerships Ltd on Tuesday announced that its BeNEX German regional rail operator has won a new passenger network concession serving Bavaria and Hesse.
The London-based global infrastructure investor said it expects to invest up to EUR46 million in BeNEX over the next four years.
It said BeNEX will deliver the project through its established agilis operating platform in southern Germany, and that the project includes the procurement of up to 56 new electric passenger trains.
"This additional rolling stock will increase the network served by BeNEX in Germany by approximately 10% across 14 of the 16 German federal states, providing in aggregate 74 million train kilometres in passenger services once all new concessions are fully operational; further demonstrating BeNEX's growth during the company's ownership," INPP said.
It expects the project to generate a low-teens nominal internal rate of return, and to deliver "predominantly availability-based revenues with limited demand risk".
The project's operations start in December 2030, with a concession duration of up to 15 years from that date, and with most of the investment to be required towards the end of the period ending 2030.
"The RVMF concession award is a natural extension of our established BeNEX platform in Germany, and continues to provide an essential regional passenger rail service connecting communities across Bavaria and Hesse," commented INPP Chair Sarah Whitney. "This investment provides an attractive low teens IRR with predominantly availability-based, index-linked revenues, and is another testament to INPP's ability to continue to originate a pipeline of proprietary high-quality assets."
INPP shares were down 0.4% at 141.02 pence in London on Tuesday.
By Emma Curzon, Alliance News reporter
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