Station naming deals announced
Runaway Rail Car Kicked Loose by Teen Hits New York Station
Škoda unveils its second tram for the Chinese market
Wabtec to buy Faiveley Transport for US$1·8bn
Constantine tram extension contract
Channel Tunnel: '2,000 migrants' tried to enter
Ottawa urban rail gets federal funding
UK and Italian operators order Vossloh locomotives
First Great Western and Eversholt sign Hitachi AT300 train contract
Tanzania, Rwanda and Burundi invite interest in DIKKM railway
Network Rail's debt will jump to almost £20 billion in the next two years as the transport infrastructure group turns to the City to make up a shortfall in public funding.
The company will have to raise between £6 billion and £8 billion of debt between now and 2006 in order to replace a shortfall in grants from the Strategic Rail Authority (SRA).
A huge securitisation programme, to raise funds by mortgaging future track access revenues, will begin this autumn with the intention of raising an initial £4 billion. That will leave it with a rocketing interest bill that will wipe out any operating profits for the foreseeable future.
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