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Deal Analysis – Volvo Buses to Chile
01 July 2005
Most large cities have problems with mass transit. In Latin America decades of neglect and underinvestment is being tackled by a raft of new programmes of investment and regulation. HSBC is looking to enhance its role in the region on the back of the successful EKN-backed deal to supply Volvo buses to Santiago, Chile. Oliver O'Connell examines the transaction.
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Santiago, Chile, has suffered from the inefficiencies and pollution of disorganized public transport for some time. In a city of 5.8 million inhabitants, with a limited subway system, it was calculated that by 2003 there were 7,653 buses clogging the streets under the control of as many as 3,000 operators and owners.
In response to the negative effect of poor infrastructure on investment and development, the government commissioned the Transantiago Committee to design and implement a new private sector transport system for the city to counter the years of neglect and disorganization.
The plan calls for feeder bus services to serve trunk bus routes, with subway stations acting as focal points to integrate the whole public transport offering. The committee also decided that all operators on key routes into the city would be required to run brand new, low emission bus fleets of a standard...
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