2023-07-12 12:49:33
The canton of Friborg wants to increase its share in the capital of Transports publics fribourgeois (TPF) by 60 million francs. This amount would be used to help the company which wants to invest 580 million to replace its bus fleet with more ecological models.
The bank loans that the TPF would have to contract to finance the investments “might prove costly for the public authorities which compensate the public transport companies”, the canton said on Wednesday. With the contribution of funds, TPFs can limit the impact of interest charges. “The savings can be estimated, if we consider an interest rate on bank loans at 3%, at 1.8 million francs per year, or almost 14 million francs in total for the period 2023–2030. “, detailed the canton.
The sum of 60 million francs, which the canton would inject into the TPFs, will not allow any return for the State because the TPFs do not distribute a dividend. The uncompensated shortfall might amount to 1 million per year.
Questioned by the RTS, the Friborg State Councilor Jean-François Steiert is certain that the budget will be exceeded, hence the need to come to the aid of the TPF. “It’s a transition that will be expensive, more than 580 million for the period 2023-2030. This is why the TPF must be helped by the State to finance these infrastructures”.
>> See the explanations of Jean-François Steiert: The interview of Jean-François Steiert on the TPF / L’actu en vidéo / 14 sec. / today at 14:40
Decarbonize the fleet
The carrier plans to invest 580 million francs to decarbonize its fleet by replacing urban and regional fossil fuel buses with clean vehicles (electricity in urban areas, hydrogen for outlying regions depending on the evolution of the reliability of the technology). The creation of new bus stations and new relay parks, as well as the replacement of old train sets are also planned.
“Given the expenditure proposed by the Council of State, the decree is subject to a mandatory financial referendum, which means that the Friborg people will have the last word”, explained the canton. The latter provides for a payment in three installments, namely 20 million francs per year between 2024 and 2026.
Already a 75.1% shareholder
The State of Friborg currently holds 75.1% of TPF Holding. The City of Friborg (16.24% of the share capital) and CFF (5%) have been approached to propose that they also increase their participation so that they keep their percentage and do not suffer from a dilution effect. The share capital is currently CHF 17.5 million.
“An openness to discussion has been expressed subject to the commitment of the State”, specified the Council of State in its message. However, the increase in the State’s participation in the share capital of TPF Holding is not conditional on the effort offered to the other shareholders.
The General Meeting of TPF Holding will have to decide on this increase in share capital. In addition to the canton and the City of Friborg and the SBB, municipalities and around thirty private players hold the remaining 3.66% of the capital.
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