$240m loan for monorail project in Brazil
The IDB Group has issued US$ 240 million loan financing for the Skyrail Bahia monorail project in Salvador de Bahia. IDB will provide financing to pay for CAPEX and other project costs during construction (estimated at US$ 842 million) through a US$240 million loan with an up to 20-year door-to-door tenor.
The Skyrail Bahia project consists of the design, building, and operation of a 23.28km, 26 station elevated monorail line in Salvador de Bahia (Phase I and Phase II) under the terms of a 35-year Public-Private Partnership. The Project has a total length of 23.28 km and 26 stations. Phase I is 19.2 km, with a 19.2 long double line from Ilha de Sao Joao station to Comercio station. Phase I has 21 stations with an average interval of 0.9km. Phase II goes from Porto São Joaquim station to Acesso Norte station, with a total length of 4.08 km and four stations.
The line will have capacity for 150,000 passengers a day.
Skyrail Bahia, a consortium formed by BYD and Metrogreen won the public tender in May 2018 and was awarded the Project under a PPP Agreement signed in February 2019 with the Office of Urban Development (SEDUR) of the State Government of Bahia.
The Project will improve the level of regional public transport services, establish large capacity public transport corridors in Salvador, strengthen the links between the urban areas of Salvador and establish cultural tourism brand in Salvador.