IN BRIEF: International PPL's BeNEX platform wins new rail concession

International Public Partnerships Ltd - London-based infrastructure investor - Announces that BeNEX GmbH has been awarded a new concession, which is for Rhein-Ruhr-Express, Teilnetz B, alias RRX-B. The operation of RRX-B will be through a subsidiary of BeNEX and will require a further investment of around EUR26 million from INPP from 2027 to 2031, with the majority of funding required towards the end of the period. "This investment will expand BeNEX's regional rail activities in Germany with a complementary network in the German federal states of North Rhine-Westphalia and Lower Saxony, comprising operations of up to 5.1 million train kilometres per year to be operated over 15 years," INPP says. The acquisition is expected to generate an "attractive" internal rate of return in the low to mid-teens, in excess of that implied by a share buyback. INPP since 2019 fully owns BeNEX, a German regional rail business based in Hamburg.

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