Global companies are looking to invest in rapidly growing Latin America

Latin American railway market holds immense potential. LatAm Rail Opportunities will host a global mix of speakers who will deliberate on the developments in and around Latin America.

Body: Argentinean Interior and Transportation Minister, Florencio Randazzo, recently announced that Argentina will be using trains manufactured internationally as a part of a move to rejuvenate its existing railway network. A bid was carried out to award the contract for new rail cars and the Chinese company successfully won the bid. China South Locomotive & Rolling Stock Corporation Limited (CSR) President, Zhang Zaizhong, conveyed that work on the construction of railway cars is already underway and that delivery will take place in the next 12 months. The government is revamping its current structure by opening the industry to a lot of international players.

The potential for Latin American market is immense and promising. A lot of international companies are looking at the Latin American market to diversify their operations. There is a host of new projects taking place in Brazil, with investments of nearly R$ 50 billion until 2018, with several new lines for Metrô SP and CPTM.

According to an article featured on the website for Railly News, the Vossloh Group recently acquired Brazil's rail switch manufacturer Barros Monteiro. Tapping into the growing market of Latin America, Vossloh acquired 100-percent stake and also plans to build a switch plant in Argentina. According to the article, Vossloh CEO Werner Andree said, “The South American rail equipment market is among the fastest-growing worldwide. Brazil, alone, has ambitious plans for expanding its rail infrastructure in time for the 2014 FIFA World Cup Brazil and the Olympics in 2016, by amplifying our presence we intend to share in the region’s growth.”

LatAm Rail Opportunities summit 2013, to be held in Sao Paulo, Brazil, will discuss the various prospects the region holds for local and international players in the industry. The event will host a global mix of speakers who will deliberate on the investments and developments in and around Latin America. The major topics that will be discussed include the LatAm rail finance, expansion and procurement, and maximizing rail safety in Latin America among others. The summit will be held on 5-6 March in Sheraton WTC Hotel in Sao Paulo.

The summit is being supported by the Ministry of Transports - Brazil, São Paulo Metro, MAFEX, The Latin-American Association of Underground Networks and Subways (ALAMYS), Brazil Rail Road Industry Association (ABIFER), Transnordestina Logística, the American Railway Engineering and Maintenance-of-Way Association (AREMA) and the International Project Finance Association (IPFA).

Media contact:
Ajay Nimbalkar
T : +971 4609 1570 | E : ajay.nimbalkar@fleminggulf.com
Link: http://www.fleminggulf.com/conferenceview/LatAm-Rail-Opportunities-2013/331

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This release was published on openPR.