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UK: RIGHTS ISSUE CONTEMPLATED BY RAILTRACK

Article Abstract:

The UK rail network operating company, Railtrack, is understood to be contemplating a rights issue worth GB[pound] 1bn. The money raised will go towards a total of GB[pound] 6.6bn needed to enlarge the UK rail network by 2006. Bank borrowing and bond issues would generate the remainder of the money required. The need for the extra money follows a decision by Tom Winsor, the UK rail regulator, to award Railtrack GB[pound] 15bn in the regulatory review. The expansion schemes identified are not covered by the review funding award.

Heavy construction, not elsewhere classified, All Other Heavy Construction, Financial management, Railroads Construction, Expanded capacity, plant expansion, Construction industry, Railroad construction, Buildings and facilities, Transportation

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UK: POLICE ATTACK RAILTRACK AT SAFETY INQUIRY

Article Abstract:

British Transport Police (BTP) criticised the UK rail infrastructure group, Railtrack, on 20 December 2000 over its proposal to create an independent train crash investigation organisation. The BTP feared that the proposal, which would give the proposed body a dominant position at an accident scene, would have a damaging impact on the former's ability to take charge and obtain proof of gross negligence. Railtrack was criticised for implying that the initial part of accident investigations should not include the police.

Public affairs, Planning, Railroad law, Investigations, Abstract, Accidents

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UK: RAILTRACK PREDICTS THREE MONTHS OF DELAY

Article Abstract:

Railtrack's new chief executive Steve Marshall has predicted that chaos of Britain's railways will continue for a further three months. He accepted that there was now a need for an independent body specialising in rail safety. However, he would like Railtrack Safety Ltd to continue having day-to-day control of the issue. He conceded there was also need for an independent accident investigation organisation.

Strategy & planning, Shipments data, Management, Transportation policy, Railroad management

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