Talgo has won a €787m ($836m) contract from Renfe to provide 15 high-speed Avril trains and fleet maintenance for 30 years. Deliveries of first batch of trains are scheduled to conclude within three years.

The contract also includes provision for a second set of 15 additional train sets and maintenance extension for a further ten years.

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Avril trains will be capable of reaching a commercial speed limit of 330km/h and have a passenger capacity of 521.

Renfe plans to introduce Avril fleet along the Mediterranean coast and serve destinations in France.

"Avril trains will be capable of reaching a commercial speed limit of 330km/h."

Equipped with Talgo’s automatic variable-gauge system, the trains will operate on high-speed and conventional lines, and will minimise travel times between northern Spain and the rest of the country.

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Export-Import Bank of India (Exim Bank) and the Government of Republic of Ghana have signed a Buyer’s Credit (BC) agreement of $398.33m for the 84km-long Tema to Akosombo railway line in Ghana.

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The bank is offering the BC under National Export Insurance Account (NEIA) to Ghana. The BC-NEIA financing mode is a safe non-recourse funding option to exporters in India, while allowing Indian companies to enter traditional and new markets in developing countries. 

Exim Bank has sanctioned $2.84bn for 22 projects worth $3.07bn under the BC-NEIA programme to date.

The Tema-Akosombo railway line will enable transportation of containers and other cargo. The new line will have four stations and two freight terminals.