09 May 2012, 15:09:00
SteelRiver to buy short line group Patriot Rail Corp
09 May 2012,
15:09:00
USA: Infrastructure investor SteelRiver
Infrastructure Partners announced an agreement to acquire short line group
Patriot Rail Corp on May 8. Patriot was formed in 2006 and now has 13 US short
lines totalling 800 route-km in 13 states. 'Patriot is a highly complementary
asset to our existing investment portfolio', said Chris Kinney, Senior Managing
Partner and CEO of SteelRiver Infrastructure Fund North America. 'We believe
that the company's scale and operating strategy will allow SteelRiver to
capitalise on additional consolidation opportunities in the short line rail
industry in North America.' Patriot founder Gary Marino will retire from the
roles of Chairman, President and CEO once the deal closes, but will continue to
provide consultancy services to the Patriot board and management. He will be
succeeded as CEO by John Fenton, who has been CEO of California commuter
operator Metrolink since 2010. Barclays acted as financial advisor to Patriot,
while Greenberg Traurig provided legal advice.
- Patriot's newly-formed Kingman Terminal Railroad subsidiary is to provide rail services at the Kingman Airport & Industrial Park in Mohave County, Arizona, under a 22-year agreement.
Keolis to operate Hyderabad metro
09 May 2012,
12:16:00
INDIA: Keolis announced on May 9 that it had
been awarded a €300m contract by Larsen & Toubro Metro Rail to operate the
driverless elevated metro now under construction in Hyderabad. The contract is
for a term of eight years with a three-year extension option. The first 7 km of
the Hyderabad metro is due to open around the end of 2014. During the
construction phase Keolis will advise L&T which is building the new network,
and will also recruit and train operating and maintenance personnel. Serving a
city of 9 million inhabitants, the Hyderabad metro is expected to carry around
1·5 million passengers a day. When fully complete, the three-line network
operated with 57 trainsets will cover 71 km and serve 66 stations. 'We are
delighted at this decision and the whole team is ready for the off', said
Bernard Tabary, Director General, International, at Keolis. 'It is an important
step for the Keolis group which is establishing itself in Asia for the first
time, opening up new perspectives in this region'.
QR plans ETCS Level 2 for Brisbane suburban network
09 May 2012,
10:03:00
AUSTRALIA: Queensland Rail requested
expressions of interest on May 9 for the supply of European Train Control System
Level 2 lineside and onboard equipment for its South East Queensland electrified
suburban network. According to the tender documents, QR is seeking ‘to improve
operational safety, improve the capacity of the existing network and to use the
opportunity to simplify and re-write the operating principles, safety rules and
procedures’. Successful respondents would be asked to participate in a
Collaborative Development Group to develop ‘interoperability rules for the
possible future implementation of ETCS Level 2’, prior to contracts being let.
Responses are required by May 30.
Mon-Hua coal line construction gets the go-ahead
09 May 2012,
05:00:00
CHINA: The National Development & Reform
Commission has approved construction of the 1837 km Mongolia – Huazhong railway
to carry coal from Ordos in Inner Mongolia south to Ji’an in Jiangxi via Yulin,
Yan’an, Yuncheng, Sanmenxia, Nanyang, Xiangfan, Jingmen and Yuyang. Capacity on
the north–south Mon-Hua line will start at 100 million tonnes a year and is
expected to double, meeting the demands of thermal power stations in the
country’s central and southern provinces; the east–west orientation of the
existing network means coal from the north is currently transported via the east
of the country. Seven provinces are to form a company with businesses and
energy suppliers to build and operate the line. The Ministry of Railways has
adopted a new approach to financing, requiring the local partners to meet half
of the 160bn yuan cost and seek bank loans for much of the remainder. A low-cost
alignment is planned, avoiding tunnels and urban areas. Approval has also been
given for studies into a 176 km line from Lanzhou to Hezuo in Gansu.
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