5th Sep 2014 06:32
LONDON (Alliance News) - International Public Partnerships Ltd Friday said it would receive a pro-rata share of GBP11 million from the order made by Stagecoach South West Trains Ltd earlier this week for 150 new passenger carriages from Angel Trains Ltd.
IPP owns a 4.8% stake in Angel Trains, the train leasing company, and said its pro-rata share from the GBP220 million order would be around GBP11 million. It said it expects the South West Trains investment to prove accretive to its projected returns from its investment in Angel Trains.
On Wednesday, Stagecoach Group PLC said its South West Trains arm would order 30 new five-carriage Desiro City trains to provide for more than 18,000 extra peak-time passengers travelling into London Waterloo. The new carriages will also allow a further 6,00 daily peak time passengers once infrastructure upgrades are complete on the mainline and Hounslow loop.
The first of the new carriages will begin arriving in 2017, and Stagecoach expects all to be in operation by early 2018. It will conduct "major infrastructure improvements" at London Waterloo to allow for the introduction of the new trains, it said Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
International Public Partnerships