High speed in Argentina: a very competitive economic offer
from Alstom and its partners

The scope of the economic proposal, which complies with the
standards of a turnkey project, is limited to a maximum amount of
US $ 1.32 billion. The offer actually proposes two
alternatives for the line:

• High electrical speed for the sections Buenos Aires -
  Rosario - Córdoba, with a present value of US$ 1.320
  million.
• High electrical speed for the section Buenos Aires -
  Rosario and diesel alternative for the section Rosario -
  Córdoba, with a present value of US$ 1.260
  million.

Both alternatives, which offer a local integration of 65%,
include the total economic investment (civil works and
infrastructure, rolling stock, maintenance, power supply for the
operations and financing costs). The financing proposal is
managed by the French bank Société
Générale.

 This opening follows the approval of the technical proposal
submitted on 27March 2007 and totally fulfilled the requirements
of the tender conditions established by the Argentinean
Government. This first high speed line project in South America is due
to link Buenos Aires and Cordoba (700 km), with 8
double-decker trainsets per day, in 3 hours (instead of 14 hours
today).  The final adjudication of the project by the
Argentinean authorities, if they make a positive decision, is
expected in the coming weeks.