OREANDA-NEWS. KfW IPEX-Bank is part of an international consortium of banks providing a financing package totalling USD 800 million for the comprehensive renovation and expansion of the metro system in Santiago de Chile. The total cost of the project amounts to around USD 1.3 billion.

In addition to modernising the existing network along with its stations and trains, two new underground metro lines are also being built with a combined length of 37 km and 28 stations. Once the expansion work is completed in 2018, the number of kilometres of track per million inhabitants will rise from 15 to more than 20.

The two new lines will link a total of eleven nearby localities, five of which will be connected to the Chilean capital's rapid transit system for the first time. This will substantially reduce the time it takes to travel to Santiago every day for about a million people. The aim of this improved mobility is to make the municipalities more appealing as well as to improve the quality of life for residents. The modernisation work will also have a positive impact on existing lines, as it will allow energy consumption to be cut by up to 30%.