Norweigan rail network development agency Bane NOR has awarded a contract to Thales for the supply of advanced traffic management system (TMS).

The next-generation solution will be deployed across the rail network in the country.

TMS will facilitate the seamless movement of passengers and cargo across the network and is expected to improve the operational efficiency of the railways.

Thales will replace the existing traffic solutions with new TMS and will offer the required cloud-based and cyber-security services for its maintenance, as part of the contract.

The TMS installation is expected to be completed by 2035.

Tianjin Rail Transit Group Co Ltd has secured €400m ($494.32m) through the issue of international bonds.

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Due in 2022, the bonds are priced at 99.443% and will yield an annual coupon rate of 1.625%.

“The Government of Australia has agreed to provide funding of A$1.7bn ($1.3bn) to the Victorian State Government for the refurbishment works associated with the Inland Rail project.”

Based in China, Tianjin Rail Transit Group offers transportation and construction services.

The Government of India has secured a loan of $120m from the Asian Development Bank (ADB) to facilitate the refurbishment of existing railway infrastructure.

The refurbishment works include the laying of double tracks and electrifying existing rail tracks in high-density rail corridors.

The double-tracking will be implemented in the rail sections between Daund-Titlagarh, Sambalpur-Titlagarh, Raipur-Titlagarh and Hospet-Tinaighat, while the electrification works will be performed on the 641km-long Pune-Wadi-Guntakal route.

The loan is the third installment of the $500m funding being provided by ADB, under the Railway Sector Investment Programme.

The Philippine Government has secured an official development assistance (ODA) loan of JPY104.53bn ($985m) from the Japan International Cooperation Agency (JICA) to fund the first phase of the Metro Manila Subway project.

The loan will support the construction of 13 tunnels, stations, and other infrastructure. It will be further used to purchase rolling stock and rail systems.

Scheduled for completion in 2025, the project is expected to resolve the traffic issues.

The Government of Australia has agreed to provide funding of A$1.7bn ($1.3bn) to the Victorian State Government for the refurbishment works associated with the Inland Rail project.

The amount will be funded through the Regional Rail Revival Programme.

The Inland Rail project involves the construction of a 1,700km-long freight rail line between Melbourne and Brisbane.