transportation infrastructure

railways/metros/trams/light rail


SECTORS covered

Modern railways represent the most efficient mode of moving people and goods overland over long-distances and within densely-populated urban corridors.  In much of the developed world, over the past 80-years, there has been a significant contraction of railway infrastructure and investment as there was a mode-shift toward automobiles, trucks and airplanes away from railways and tram systems.  However, in many regions, there has more recently been another mode-shift back toward rail infrastructure.  For example, in many of the world's metropolitan areas there are many initiatives to build, expand and modernize urban rail systems ranging from metros (subways), trams, light rail, regional commuter rail and high-speed rail systems.  Additionally, as the global cargo transport systems shift toward standard containerized multi-modal systems, there is also a regrowth in the freight rail's mode share as logistic companies benefit from using rail as the most efficient long-haul component of port-to-market overland routing.  We assist our clients involved in both shareholder-owned/privately-owned and publicly-owned railway infrastructure (including rail lines, rolling stock, switches and controls, right-of-way/ancillary uses, catenary powerlines and systems, stations, switchyards, maintenance facilities). 

We assist both public and private clients in evaluating, planning, financing, developing, constructing, operating and managing standard gauge railways (freight/cargo and passenger), as well as metro (subway), tram (streetcar) and light-rail systems both under conventional public sector owner-operator models and under public-private partnership contracting models (availability payment, DBF, DBOM, DBFOM, DBOO, DBOOT, O&M contracts and similar variations).  Complementing our rail sector coverage, we also advise clients on rolling stock leasing, positive train control (PTC) systems, fiber optic rights-of-way, transit-oriented (multi-use) development, air/development rights, and ticketing and fare collection and payment systems.

Within the rail infrastructure segment DCS experts maintain relationships with related project consultants and participants including: both international and local legal advisors; technical, engineering and environmental/social advisors, economic/market consultants; contractors, vendors and technology providers; strategic and financial equity sponsors; lenders (including commercial lendersinternational/development financial institutions (IFIs/DFIs)Export Credit Agencies and Export-Import Banks (ECA/Ex-IMs)institutional lenders, bond funds and investment banks) and credit rating agencies (if applicable).  We are always prepared and highly experienced in taking on a lead transaction advisory or project/program management role where we coordinate and manage (in some cases, procure and retain via subcontract) various technical, legal and other consultants required for the project.  On behalf of our clients we are also prepared and accustomed to leading and concluding negotiations with diverse stakeholders such as governmental/public sector or equity sponsors/concessionaires, developers, investors, contractors and venders, lenders, rating agencies and regulators, as may be relevant for a given project.

In the railway sector, we don't view railways as simply an asset for trains to move cargo and people.  Rail corridors are valuable economic assets, with many dimensions, including transportation, economic development, real estate development, land-use, energy, technology and telecommunications elements.  Accordingly, we take a multi-dimensional approach to advising our rail sector clients.  In most client cases, there will be a significant nexus between railway infrastructure facilities and other sectors that we specialize in, such as technology (positive train control systems; fare ticketing, collection and payment systems), transportation (interconnected multimodal networks: rail, roadsparking facilitiesbusesairportsmarine and inland ports; pedestrian & bikewayspipelines and transmission lines ), real estate (mixed-use transit oriented development, warehousing & logistical properties), energy & utilities (railway electricity supply and solar, wind and kinetic renewable energy installations); telecommunications (communications towersfiber optic networks), oil & gas (traction fuel supply); E&C (contractors) and heavy industries (construction equipment, railway equipment and commodities); logistics, freight & cargo industries; and others, as relevant.  We are prepared to bring our complementary expertise in these other sectors to our rail sector clients, as their specific project may benefit.  There may be many collaborative partnership opportunities between diverse companies and public and private service providers, who may also have synergistic objectives and opportunities related to rail infrastructure assets and systems.  We can help our clients expand the horizons of their project and analyze and understand synergistic economic and commercial impacts related to rail infrastructure assets and services.  This will help forge potential new innovative partnerships with both private and public sector parties, where significant added-value can be realized.  

Please click on the below links to learn more about the specific services related to the rail infrastructure segment that DCS experts can offer:​

DCS focuses on providing the above services in the rail infrastructure segment to the following categories of clients:

dcs advisory Experts team


Daniel Dean

Vienna, Austria

Lloyd Richardson

Washington NC, USA

James Weiss

Vienna, Austria

Meet Our Rail Infrastructure Experts Team!