@article {Posner15, author = {Henry Posner III}, title = {Rail Freight Project Finance}, volume = {5}, number = {2}, pages = {15--22}, year = {1999}, doi = {10.3905/jsf.1999.320208}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Since the early 1990s, privatization has swept the global railway market. The experience of Railroad Development Corporation, a U.S.-based railway investment and management company focused on developing countries, suggests that marketing has a greater impact than cost control on the success of a railway project. A case study on the restoration of an abandoned railroad in Guatemala illustrates how Railroad Development Corporation found local partners, identified freight customers, leased the right of way for non-railroad businesses, arranged financing, and reconstructed the railroad. Lessons learned on assessing the transportation market and valuing the business would be helpful for other emerging-market railroad projects.}, issn = {1551-9783}, URL = {https://jsf.pm-research.com/content/5/2/15}, eprint = {https://jsf.pm-research.com/content/5/2/15.full.pdf}, journal = {The Journal of Structured Finance} }