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Rea Vaya – ECA financing
02 March 2011
Delivering fundamental changes
The financing in the Rea Vaya project was designed to finance the export of buses by Scania from Brazil as part of the Rea Vaya Bus Rapid Transit (BRT) project in the City of Johannesburg (CoJ) in South Africa as a transport system for the FIFA World Cup in 2010. The deal succeeded, but it was not without some unique challenges. And the success is a triumph for mandated lead arranger HSBC, and for the growing trade in capital equipment between new economies – in this case Brazil and South Africa.
In most countries the introduction of a mass rapid transport system would be welcomed by all – but this was not the case in Johannesburg where the taxi driver cartel was vehemently opposed to the BRT system. The project also...
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