Rail group pass fundraising target for Kiwirail review

Organisers of a public appeal to raise funds to review a KiwiRail decision to shut the Gisborne to Napier railway line are celebrating the achievement of their target.

Gisborne Rail Action Group member and District Councillor Manu Caddie said this morning that $10,600 had been received already and more than $2,000 pledged to come in the next couple of days.

“This is really exciting, it means we can get the independent economic review underway and pay for an engineer’s peer review of the KiwiRail conclusions on the infrastructure.” said Mr Caddie.

Mr Caddie says there appears to be anomalies in the KiwiRail report.

“Even at Kiwirail's 8.9 percent capital discount rate, which is very high compared to roading and other public infrastructure, on the freight tonnages predicted in recent reports we see a positive net present value within 10 years. Which means a recommendation to reinvest.” said Mr Caddie.
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