Antin Infrastructure to launch new high-speed train service in France (updated)

Antin Infrastructure Partners SAS

06/06/2024 09:42

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    By Leo Marchandon and Olivier Sorgho
       June 6 (Reuters) - Antin Infrastructure Partners
 ANTIN.PA  plans to launch a new high-speed train company in
France called Proxima, the French private equity firm said on
Thursday, adding it would initially invest 1 billion euros ($1.1
billion) in the project. 
    High-speed TGV train services in France had historically
been a monopoly by state-owned giant SNCF, but Trentalia, a unit
of Italy's state rail operator, entered the market in 2021. 
    Proxima will add to the competition, becoming the first
privately-owned operator in this market in the country. 
    The new trains will connect Paris with four cities in
western France - Bordeaux, Nantes, Rennes, and Angers - adding
10 million new passenger seats per year on routes which are
showing strong demand, the company said in a statement. 
    "Travel between key cities in France has increased over the
last 10 years, reflecting new ways of living. High-speed rail is
the answer favored by the French, and train occupancy levels are
at all-time highs," the company added. 
    Proxima has also entered into exclusive negotiations with
French train maker Alstom  ALSO.PA  to buy 12 of its flagship
Avelia Horizon trains, with the option of buying more in the
future. 
 
    ($1 = 0.9194 euros)

 (Reporting by Olivier Sorgho and Leo Marchandon; editing by
Jason Neely and Emelia Sithole-Matarise)
 ((Olivier.Sorgho@thomsonreuters.com;))