AusRAIL, Market Sectors

Clark says NZ rail ‘strategic’ as Toll looks to sell

<p>Price is the only obstacle to a historic nationalisation of New Zealand’s rail system now operated by Toll’s local subsidiary, the country’s government said yesterday (Monday, March 10).</p> <p>The government is reported to have offered Toll more than NZ$500m but Toll NZ is thought to want twice that, NZPA reported, with finance minister Michael Cullen saying he had hopes for an agreement. </p> <p>"It’s of huge strategic interest to us because of our interest in sustainability," prime minister Helen Clark said. </p> <p>"If we could be transporting more people and goods by rail, we would be assisting in sustainability objectives." </p> <p>Miss Clark said although there was a strategic interest in the railways, it was not affected by changes to the criteria covering foreign control of strategic assets.</p> <br />