Pension funds to pay $3.39B to operate U.K. HSR link
Written by William C. Vantuono, Editor-in-ChiefBritish Transport Secretary Philip Hammond announced Friday that two Canadian pension funds will buy the right to operate Britain’s high speed rail ink from London to the Channel Tunnel for 2.1 billion pounds ($3.39 billion).
Ontario Teachers’ Pension Plan (OTPP) and Borealis, the infrastructure investment arm of Ontario Municipal Employees Retirement System, outbidEurotunnel, Morgan Stanley, and Allianz for the 30-year concession.
The tunnel is owned by Eurotunnel and operated by Eurostar.
“It is an enormous amount of money and a big vote of market confidence inthe future of U.K. high speed rail,” said Hammond.
