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Article: Two on track for Tranz Rail sale

Article from:
Sunday Star-Times
Article date:
April 22, 2001
Author:
Copyright

Liam Dann

NEW ZEALAND'S long-distance passenger rail service will fall under Australian or French control.

Tranz Rail is understood to have narrowed the bidders for the Tranz Scenic service to two companies - French state-owned enterprise Reseau Ferre de France (RFF) and Victorian operator West Coast Railways.

Industry insiders say Tranz Rail board members will meet Thursday to discuss the sale and bidders are expecting a decision soon after.

Analysts say the Tranz Scenic main trunk operation will sell for between $20 and $30 million - the final figure depends on the agreement for annual track leasing fees.

The cost would be small change for RFF which owns the French rail network and has ...

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