AusRAIL, Market Sectors

Toll NZ and government finalise track deal

<p>Toll New Zealand and the New Zealand Government have reached agreement on the return of the national rail network to public ownership.</p> <p>Toll New Zealand said it would continue to manage the network for an interim period of two months while the government continues to set up and resource TrackCo, the entity that will manage the network.</p> <p>"In line with prior commitments, Toll and the Crown will invest significant capital towards upgrading the rail infrastructure and rollingstock," Toll New Zealand said.</p> <p>The chairman of Toll New Zealand, Mark Rowsthorn, said the company is satisfied it had reached "an acceptable framework" for its relationship with the government.</p> <br />