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Kiwirail’s operating surplus rose by $NZ 6m, driven by a $NZ 39m rise in freight revenue and increased utilisation of the Main North Line following the Kaikoura Earthquake closure.
Increasing passenger numbers on scenic trains and the Interislander ferries, together with the restoration of Coastal Pacific services following the Kaikoura earthquake helped to lift tourism revenues by $NZ 7m.
The motive power fleet was strengthened with the delivery of 15 new DL class diesel locomotives from CRRC Dalian. KiwiRail is planning to acquire 100 new locomotives and 900 wagons at a cost of $NZ 375m and invest $NZ 331m in infrastructure over two years using $NZ 1bn in additional funding announced in the government’s budget in May.
“This is a transitional year for KiwiRail,” says the company’s acting chair, Mr Bob Major. “Not only did KiwiRail deliver a solid result, we are also very grateful to our government shareholders for securing the future of rail for New Zealand. The government’s commitment of $1 billion in this year’s budget will enable us to bring our service up to standard over future years.”
This article first appeared on www.railjournal.com
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