Discussions over the future of passenger rail progressing well
Auckland, New Zealand -Tranz Rail Holdings Limited [NZSX: TRH]
Tranz Metro and Greater Wellington Regional Council met yesterday to discuss a new long-term contract for the supply of
Wellington's passenger rail services. Negotiations are progressing well and it is anticipated that a new contract will
be signed within three to four months.
"We are exploring a wide range of options for the provision of cost effective solutions for rolling stock, stations,
infrastructure and systems", said National Passenger Manager, Ross Hayward.
Dr Dave Watson, Greater Wellington Divisional Manager, Regional Transport also agreed that negotiations were progressing
well.
"Tranz Metro have now opened their books, which has enabled us to have increasing confidence in their projected
operating costs and revenues."
Many projects under consideration involve major improvements to infrastructure and rolling stock. These projects include
the electrification of services to Waikanae and new rolling stock. For the more urgent projects Greater Wellington and
Tranz Metro have agreed to jointly fund engineering studies to progress:
* Refurbishment of English Electric units
* New carriage trains for the Wairarapa services
* New electric multiple units
* Improved clearance on the Johnsonville Line to allow off peak services to be provided by modern rolling stock
* Double tracking between Pukerua Bay and Paekakariki Mr Hayward said the jointly funded studies will investigate all
issues and identify practical cost effective solutions that can be implemented as soon as possible."