The Board of Directors of the new entity Renfe International Projects, whose objective is to develop business abroad through access to new markets and the management of those overseas projects that the company already has in an implementation stage, has had its first operative session.
Renfe International Projects aims to establish itself as the reference operator in third party countries and consolidate foreign business so that it represents 10 percent of its total income. This entity starts with own funds of 9.1 million Euros, which originate from a monetary contribution of 1 million Euros and another non-monetary contribution of 8.1 million Euros.
This second contribution comes from the valuation of 100 percent of the shares of Renfe of America, LLC, and 50 percent of the equity of Leo Express Global. Both shareholdings were up to now affiliated with the state-owned company Renfe Operadora.
During the operative session of its Board of Directors, Renfe International Projects has reviewed the main projects on which the company is currently working. Among these are the high-speed projects such as the Mecca-Medina line in Saudi Arabia, the line that links Dallas and Houston in Texas, United States, the recently opened direct connection between Spain and France, the one that will connect Spain and Portugal, from Vigo to Porto, and Rail Baltica. The latter one is an interconnection project of the Baltic States supported by the European Commission. Other projects that have been analysed are the Maya Train in Mexico and the operation of the Danube line in Slovakia via Leo Express.