TY - JOUR T1 - Rail Freight Project Finance JF - The Journal of Structured Finance SP - 15 LP - 22 DO - 10.3905/jsf.1999.320208 VL - 5 IS - 2 AU - Henry Posner III Y1 - 1999/07/31 UR - https://pm-research.com/content/5/2/15.abstract N2 - 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. ER -