TransPod unveils next stage of development of ultra-high-speed tube transportation in Alberta, ...

TransPod unveils next stage of development of ultra-high-speed tube

transportation in Alberta, Canada KUALA LUMPUR, March 30 -- TransPod, the startup building the TransPod Line – a new ultra-high-speed transportation system, to disrupt and redefine commercial transportation – has announced the next phase of the multibillion-dollar infrastructure project in Alberta, Canada.

Broughton Capital Group (BCG), in cooperation with China-East Resources Import & Export Co. (CERIECO), have agreed in principle to provide a combined US$550 million finance and Master EPC arrangement respectively to accelerate development of a TransPod Line between Edmonton and Calgary and drive economic growth in the region. (US$1 = RM4.206)

“As the first and only company to confirm such finance for a multibillion-dollar tube-transportation infrastructure project, TransPod is proud of its commitment to driving growth in Alberta through true innovation and partnership,” said co-founder and CEO, TransPod, Sebastien Gendron.

“The construction and operation of a TransPod Line will help Albertans move around easily, create new jobs, and facilitate investment into the region. With the confidence of our investors and the Government of Alberta, we will deliver on a joint vision of a progressive, sustainable, and growing economy.”

Key highlights from the Alberta TransPod feasibility study include substantial economic growth; significant employment growth; improved affordability for travellers; and, reduction in carbon footprint.

The Alberta TransPod infrastructure project will create 15,600 jobs per year, totaling 140,000 jobs over nine years. Over the course of a year, the expected ridership between Calgary and Edmonton will reduce CO2 emissions by 636,000 tonnes per year, or the equivalent of planting a forest four times bigger than Calgary, according to a statement.

To support regional job development and provide employee training for the TransPod Line in Alberta, TransPod has partnered with Building Trades of Alberta to leverage its regional expertise and partner network.

Colliers Capital Markets, a subsidiary of Colliers International, acted as financial advisor to TransPod.

More details at www.transpod.com.

-- BERNAMA