Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Toll NZ & Crown Sign Agreements

1 July 2004

Toll NZ & Crown Sign Agreements

Auckland, New Zealand -Toll NZ Limited [NZSX: TRH]

After months of complex negotiations, Toll and the Crown last night reached agreement covering the terms for the sale of the National Rail network back to public ownership.

Toll will continue to manage the network for an interim transition period, expected to be two months while the Crown will continue to appropriately resource a new entity.

In line with prior commitments Toll and the Crown will invest significant capital towards upgrading the rail infrastructure and rolling stock.


Chairman of Toll NZ, Mark Rowsthorn said "the deal provides a strong foundation to enable rail transport to be more competitive in the future. We are satisfied that we have reached an acceptable framework for a strong relationship with the Crown"

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>

ALSO:

Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>

ALSO:

RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>

ALSO:

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>

ALSO: