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ORR serving up rail development on a plate

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There is a strong appetite to invest in rail. However, barriers hold back the market, says the official regulator in the UK. The Office of Rail and Road (ORR) has conducted a review that reveals latent opportunities for rail infrastructure investment. Work is now underway at the regulator to remove barriers and streamline the investment process to support economic growth.

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Rail & Road

BEML Secures First International Rail-Metro Contract in Malaysia for ₹1 Million, ETInfra

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State-owned firm BEML Limited has received its maiden overseas contract in the rail and metro segment from Malaysia valued at ₹1 million.

The work is for the retrofit and reconditioning of the Mass Rapid Transport System, according to a company stock exchange filing.

“…we hereby inform that BEML Limited received its maiden overseas contract in the Rail and Metro segment from Malaysia for the Retrofit and Reconditioning of the Mass Rapid Transport System on 09.08.2025, valued at ₹1 million,” the company informed stock exchanges.

BEML Limited, a leading multi-technology ‘Schedule A’ company under the Ministry of Defence, plays a pivotal role in serving India’s core sectors, including defence, rail, power, mining, and construction, by offering world-class products.

BEML operates in three verticals: Defence and aerospace, mining and construction, and rail and metro. It has state-of-the-art manufacturing facilities located in Bengaluru, Kolar Gold Fields (KGF), Mysore, and Palakkad, with a strong R&D infrastructure and a nationwide sales and service network.

Separately, in early July, BEML Limited inaugurated its newly built state-of-the-art warehousing facility, spread over 0.12 acres, at the Karnataka Industrial Areas Development Board (KIADB) Aerospace Special Economic Zone (SEZ), Bengaluru.

This marked a significant milestone in BEML’s long-term vision of supporting India’s aerospace growth and creating a robust supply chain ecosystem for global and domestic Original Equipment Manufacturers (OEMs).

The facility is designed not only to support BEML’s internal logistics, but also to offer warehousing and allied services to other OEMs, Tier-1, and Tier-2 players.

BEML envisions to create a Centre of Excellence for Aerospace Technologies within this SEZ, empowering India’s self-reliance journey in defence and aerospace while creating a vibrant ecosystem for innovation, collaboration, and growth.

  • Published On Aug 10, 2025 at 10:54 AM IST

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A Strategic Bet on America’s Infrastructure Renaissance

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FTAI Infrastructure Inc. (NASDAQ: FIP) has made a bold move to position itself at the forefront of the U.S. infrastructure renaissance with its $1.05 billion acquisition of the Wheeling & Lake Erie Railway (W&LE). This transaction, secured through a $2.25 billion capital raise—including $1.25 billion in new debt and $1 billion in preferred stock from Ares Management—marks a pivotal step in the company’s evolution from a niche infrastructure player to a diversified rail powerhouse. For investors, the deal represents a rare opportunity to capitalize on a strategic acquisition that aligns with the Biden administration’s $1.2 trillion infrastructure bill, which is turbocharging demand for freight rail services.

Strategic Synergies and Geographic Expansion

The W&LE’s 1,000-mile network spans four industrial heartland states, connecting key manufacturing hubs, energy corridors, and ports. Its integration with Transtar’s Union Railroad in Pittsburgh creates a seamless, cross-regional rail network capable of handling surging demand for bulk commodities, automotive logistics, and intermodal freight. This acquisition not only expands FTAI’s operational scale but also diversifies its revenue streams, reducing reliance on any single sector.

The Biden-era infrastructure stimulus has already spurred a 15% year-over-year increase in rail freight volumes, according to the Association of American Railroads. FTAI’s expanded network is uniquely positioned to capture this growth, particularly in the energy transition—W&LE’s routes serve coal-fired power plants and emerging renewable energy projects, offering a dual-use asset in a shifting market.

Financial Engineering and Risk Mitigation

The acquisition’s financing structure is as innovative as it is ambitious. By issuing preferred stock to Ares Management and refinancing high-cost debt, FTAI has reduced its debt-to-EBITDA ratio from 76% to a more manageable 3–3.5x by 2025. This maneuver not only lowers interest expenses but also signals confidence in the company’s ability to generate $200 million in annual Adjusted EBITDA by 2026—a 60% increase from current levels.

Critics may point to the company’s heavy leverage, but the projected EBITDA growth and the inelastic demand for rail services in the U.S. suggest a strong margin of safety. The W&LE’s existing 250+ customers, including Fortune 500 companies, provide a stable revenue base, while the Biden administration’s focus on reshoring manufacturing could unlock new business opportunities.

A Hidden Winner in a Stimulus-Driven Market

FTAI’s acquisition is a masterclass in value creation. While the market has largely focused on high-profile infrastructure projects like EV charging networks or broadband expansion, FTAI is quietly building a cash-generative asset base with long-term durability. The W&LE’s routes are embedded in regions where rail infrastructure is aging and in need of modernization—a gap the Biden bill is designed to address.

Moreover, the transaction’s regulatory approval by the U.S. Surface Transportation Board (expected in Q3 2025) will cement FTAI’s status as a consolidator in the fragmented Class II rail sector. With only 12 Class II railroads in the U.S., FTAI’s scale and strategic positioning could deter competition and drive pricing power.

Why Act Now?

The key for investors is timing. FTAI’s stock currently trades at a discount to its projected intrinsic value, reflecting skepticism about its debt load and integration risks. However, the company’s refinancing strategy and the earnings call on August 8—where management will detail the path to EBITDA growth—could catalyze a re-rating.

For those willing to look beyond short-term volatility, FTAI offers a compelling case: a high-conviction bet on the infrastructure renaissance with a clear line of sight to earnings growth. As the market increasingly recognizes the value of physical infrastructure in a stimulus-driven economy, FTAI’s shares could see significant appreciation—especially if the company successfully executes its integration and debt-reduction plans.

In conclusion, FTAI Infrastructure’s railroad acquisition is not just a strategic win but a testament to the power of disciplined capital allocation in the post-pandemic economy. For investors seeking exposure to the Biden-era infrastructure boom without the hype of tech or crypto, FTAI presents a rare, undervalued opportunity. The question is no longer if the market will recognize this, but when.



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UK Rail Industry Makes Groundbreaking Move With The World’s First Pride Parade On A Train, Highlighting LGBTQ+ Inclusion And Solidarity

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August 9, 2025 |

The UK rail industry is setting a new standard for inclusivity and solidarity with its groundbreaking move to host the world’s first Pride parade on a train. This innovative initiative marks a significant milestone in LGBTQ+ representation, reflecting the industry’s commitment to diversity and inclusion. By taking the celebration of Pride on the move, the event not only showcases the industry’s support for the LGBTQ+ community but also highlights the importance of visibility and advocacy in spaces that have historically lacked such representation. This historic event promises to make waves across both the rail sector and broader social spheres, creating a powerful symbol of unity and progress.

LGBTQ+ Rail Industry Comes Together for Inaugural Pride Parade on a Train at Alstom’s The Greatest Gathering Festival

In an unprecedented event that celebrates both inclusivity and the LGBTQ+ community, LGBTQ+ employees and allies from across the UK rail sector came together to participate in the world’s inaugural Pride parade on a train. This remarkable procession took place at Alstom’s The Greatest Gathering festival in Derby, an event marking the largest-ever assembly of both historic and modern trains. This Pride parade underscored the ongoing efforts within the UK rail industry to foster diversity, equity, and inclusion, making history as a landmark moment for the sector.

The parade, which was part of the 2025 Railway 200 celebrations, was held at the Litchurch Lane Works in Derby, Alstom’s renowned train manufacturing site. The event drew participants from various prestigious railway organizations, including Alstom, Angel Trains, AtkinsRéalis, Avanti West Coast, Hitachi Rail, and Transport for London (TfL). The diverse group of individuals coming together for the event highlighted the collaborative nature of the rail sector’s commitment to supporting LGBTQ+ inclusion.

Leading the Parade: Iconic Performers and a Historic Train

A vibrant and celebratory atmosphere filled the air, as a group of notable drag performers led the parade. These talented individuals included Alexander Garnett-Scherer, Senior Operations Manager at TfL, known by his drag persona as Connie Tactless, the “Mother of Oyster”; Lee Nicholson-Brown, a London Underground train driver and performer as Lady Felicia; and Medusa Has Been, renowned as the “newest oldest showgirl in town.” Their colorful and spirited performances provided an energetic start to the parade, setting the tone for what would become a historic event.

The procession itself snaked through the 90-acre factory site, where a photoshoot was held in front of Avanti West Coast’s Pride Pendolino No. 390119 ‘Progress.’ This train was unveiled in 2020 and marked a significant moment as it became the first in the UK to be fully wrapped in the progressive Pride flag. The photoshoot in front of this symbolic train emphasized the railroad industry’s dedication to supporting LGBTQ+ rights and visibility.

The Parade’s Journey and ‘Trainbow’ Train

The parade continued its journey across Alstom’s Derby site, heading towards the 1.6 km-long Test Track. This segment of the site allowed attendees to board the Class 345 Aventra train, a modern marvel that regularly serves passengers on London’s Elizabeth Line. Special for this occasion, the train, which had returned to Derby for the event, was one of the key attractions for attendees. The unit selected for the parade, No. 345055, has been proudly displaying its own “trainbow” since 2023, making it an ideal representative for this special Pride parade.

The Class 345 Aventra train offered a unique opportunity for participants to celebrate aboard a train that has long been a symbol of inclusivity within the rail industry. The train’s design is a testament to Alstom’s dedication to diversity, and its involvement in the parade offered an exciting and historical experience. A special announcement was made during the ride to inform passengers of the parade’s significance, drawing enthusiastic applause from attendees as they reflected on the significance of the event.

A Celebration of LGBTQ+ Inclusion

The Pride parade was organized by Journey, a non-profit organization supporting LGBTQ+ professionals in the transportation sector. The event was part of a larger celebration from August 1st to 3rd, 2025, that attracted over 40,000 rail enthusiasts to Alstom’s Derby factory. This sold-out charity event was a major highlight of the Railway 200 celebrations, which commemorated the opening of the Stockton and Darlington Railway, the world’s first modern railway.

As the UK’s leading supplier of new rolling stock and train services, Alstom has long been at the forefront of championing LGBTQ+ inclusivity within the rail industry. Since 2018, Alstom UK and Ireland has launched Voices of Pride+, an employee resource group designed to empower LGBTQ+ staff and allies. This group offers a space for employees to bring their authentic selves to work, fostering an inclusive work environment that encourages acceptance and support.

Beyond Pride celebrations, Alstom’s commitment to diversity extends to their community partnerships. The company is a proud supporter of Micro Rainbow, a charity that assists LGBTQI asylum seekers and refugees. Alstom funds a “Moving On Officer” through its Community Project Fund, providing crucial support to individuals seeking employment, education, and financial assistance.

The UK rail industry has made history by hosting the world’s first Pride parade on a train, emphasizing its commitment to LGBTQ+ inclusion. This groundbreaking event highlights the importance of visibility and solidarity within public spaces, showcasing a significant step towards greater diversity and representation in the transport sector.

Showcasing Pride Across the UK’s Rail Network

Alstom’s fleet features several Pride-themed trains that demonstrate the company’s continued commitment to inclusivity. Among these is the London Overground Capitalstar No. 378205, wrapped with the message “Every Story Matters #LondonForEveryone.” The fleet also includes East Midlands Railway’s Class 158 Express Sprinter 158773 and West Midlands Railway’s Class 730 Aventra 730018, which was named ‘Hurst Street’ in honor of Birmingham’s Gay Village. Additionally, several Alstom-built trams, including those serving Nottingham Express Transit and Manchester Metrolink, proudly display “trambow” designs.

The event at The Greatest Gathering in Derby highlighted how the rail industry is not just about transportation; it’s about creating inclusive spaces for everyone. Through their continued support of Pride celebrations, Alstom and its partners in the rail sector are paving the way for a more inclusive future, where LGBTQ+ individuals and allies can come together, celebrate, and continue to break barriers within the industry. This Pride parade was a step toward an even more inclusive rail network for the future.



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