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Hong Kong's underground rail operator, MTR Corporation, has made its fourth attempt to expand into Britain by taking a 29 per cent stake in a joint venture to bid for a commuter and high-speed train franchise.
MTR has signed a joint venture with GNER Holdings Ltd., a unit of Sea Containers Ltd., to bid to run the Integrated Kent Franchise. The franchise, which will begin in 2005 is to run the commuter services now run by South Eastern Trains and high-speed services on the new Channel Tunnel Rail Link. Sea Containers expects the franchise to generate more than HK$5.42 billion) a year. The other companies seeking to run the franchise are First Group Plc, Denmark's DSB state-owned railway and London South Eastern Railway Ltd., a venture of Go-Ahead Group Plc and Keolis SA.
Source: The Standard
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