Concession Agreement Eurotunnel

The concession contract is a binding agreement between the British and French governments, France Manche and the Channel Tunnels Group responsible for the planning, financing, construction and operation of the Channel Tunnel for a period of 55 years. The concession was then extended until 2086. France/United Kingdom – Fixed link with the Channel Tunnel – Concession contract between the United Kingdom and France and the concessionaires (The Channel Tunnel Group Limited and France-Manche S.A.) for the development, financing, construction and operation of a fixed link between the United Kingdom and France. The Regulation of the Intergovernmental Commission on the Use of the Channel Tunnel (English and French) provides for third party access to the railways. Two years after the British and French governments agreed in principle to extend the Eurotunnel concession to 99, their action was approved by the National Assembly in Paris on 30 June. The concession, initially 55 years old, granted in 1987, would have been cancelled in 2042. It was extended by 10 years in 1993, but continues until July 2086. The contract establishes a land border between the two countries in the middle of the tunnel – the first of its kind. [1] At the end of June, Eurotunnel announced that it would order another 11 bo-bo-bo-locomotives from the Euroshuttle consortium of Brush Traction and Adtranz, bringing its fleet to 59. The new locomotives for road train operations will be put into service in March 2001 from the Brush plant in Loughborough. The contract includes an option for an additional 10 units.

Four of the 11 will integrate the standard 5·6 MW traction package into the existing fleet. The other seven will be equipped with IGBT traction controls allowing a continuous rated power of 7 MW for heavier truck shuttles (RG 4.99 p334). The Annexes to the Agreement cover certain aspects, including the purchase and sale of land, insurance obligations and the exercise of the right of substitution. The substitute right provides for the temporary transfer of the operation to two entities under the control of the lenders who financed the tunnel so that they can be repaid. Substitution can only be exercised in certain cases of Non-payment of Eurotunnel and requires non-misunderstanding on the part of both governments. [1] United States: Amtrak took advantage of the drop in travel demand due to the coronavirus to advance a number of infrastructure and investment projects, although it recorded a loss of $801 million for the fiscal year to September 30. INTERNATIONAL: The first Rail Broadcast Week will take place online from 21 to 25 September 2020 and will be organised by railway Gazette Group. Supported by lead sponsor Siemens Mobility, Rail Broadcast Week offers an unparalleled opportunity to understand the opportunities and challenges of the global rail industry. This legal measure makes it possible to act separately the warrants of 2001 and 2003, which were issued free of charge to shareholders as part of the financial restructuring of the company. Shareholders have until December 31, 2001 to exchange eight of the 2001 warrants for a single unit (double shares) at an exercise price of 59p.

The company will also be able to amortize its capital assets over a longer period, which will reduce the annual charge in the financial statements. As a result, operating profit will increase by £15 million to £30 million over the next few years. The Canterbury contract was followed a month later by the concession contract signed on 14 March 1986. [1] The Franco-English Treaty on the Channel Tunnel was signed by both governments in Canterbury Cathedral. The contract prepared the concession for the construction and operation of the fixed link by private companies. It describes the methods to be used for arbitration in the event of a dispute.. . . .