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![]() Railhub Archive | ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() Department of TransportRail privatisation timetable “on track” – Watts
commercial approach to investment in the network, John Watts, Minister for Railways and Roads, said today. Speaking at a rail privatisation conference in London, Mr Watts emphasised the benefits and opportunities that privatisation will bring to the network and to Railtrack: "I believe that privatisation offers the best future for Railtrack. It will enable greater use to be made of private sector skills in managing the network, in improving Railtrack stations, in seeing efficient track maintenance is delivered and in encouraging investment in the upgrading of railway lines. "One example is the modernisation of the West Coast Main Line. Approval for new signalling development within the Private Finance Initiative demonstrates Railtrack's commitment to the long term future of this vital route and is another example of the benefits of private sector input - in this case ahead of our privatisation proposals for Railtrack." Mr Watts said there had been a high level of interest in the first eight passenger franchises with 37 companies having applied to pre-qualify. Many are interested in more than one franchise making the total number of applications 160. "The Franchising Director intends to issue the first invitations to tender - for South West Trains, Great Western and LTS Rail - in May. Invitations to tender for ScotRail, Midland Main Line, Gatwick Express, Network SouthCentral and InterCity East Coast are expected to be issued later this year." He confirmed that rolling stock leasing companies (ROSCOs) would be well on course for sale later this year and set out the improvements that privatisation would bring to that sector of the rail market: "The ROSCOs will be in vigorous competition with each other - and indeed with any other entrants to the rolling stock supply industry. I am confident that this competition will, over time, yield benefits in the deployment and performance of trains, and in the efficiency with which they are maintained. "An Information Memorandum will shortly be sent out to those who are successful in pre-qualifying. Interest both in the UK and overseas, has proved to be strong. I am as optimistic as ever that we will achieve our objective of successful sales later this year." Mr Watts commented that the sale of the industry's support businesses as part of a rolling programme had already started and will continue over the next two years. The sale of BR's heavy maintenance depots is most advanced - the first sale took place before Easter: "We expect to sell all the British Rail Infrastructure Services units to the private sector by 31 March 1996. The sale of the BRIS units will create a competitive and efficient infrastructure service supply market." He said that BR Telecommunications would be brought to the market in the near future. Turning to freight Mr Watts said: We intend to privatise all BR's domestic freight businesses in the course of 1995. The new owners of the businesses will have the freedom to assess new diversification and investment opportunities." He concluded: "We are moving rapidly towards implementation of rail privatisation. I very much hope the private sector will come forward to seize these opportunities. That is the path to the modern and efficient railway we all want to see." NOTE TO EDITORS 1. Mr Watts was speaking at the IIR conference entitled "Effectively Assessing The Level of Risk and Opportunity from Investment in Rail Privatisation".
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