CAPE TOWN-based rolling stock refurbishment company Commuter Transport Engineering (CTE) has embarked on a major expansion of its rail activities with the acquisition of Union Carriage & Wagon (UCW) from Murray & Roberts, South Africa, for an undisclosed sum.
SPAIN's national train operator Renfe this week announced a major change in its fares policy, with an 11% reduction in all tourist class AVE train tickets and new discounts in an effort push ridership beyond the 22 million mark.
CANADIAN Pacific (CP) reported a 15% increase in its diluted earnings per share "exclusive of significant items" to $C 1.28 from $C 1.11 in its 2012 annual results published on January 29, a result which the Class 1 railway described as "solid."
MTR celebrated the start of operations on Hangzhou Metro Line 1 in November, its seventh project outside of Hong Kong. And as deputy CEO Lincoln Leong explains to Kevin Smith, the company is committed to strengthening its external presence over the next few years.
HOPES of finally opening the long-delayed 4.7km light rail line in the Spanish city of Jaen have faded after an audit by the Catalonian train operating company FGC found annual operating losses would run into millions of Euros.
NORFOLK Southern will spend $US 2bn on capital improvement projects in 2013, including $US 831m on infrastructure maintenance and replacement of sections of rail, sleepers, ballast and bridges.
MOLDOVA's minister of transport and road infrastructure, Mr Anatol Salaru, is hoping to secure financial aid of €50-60m from the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) for modernisation of the country's railway system.
US Class 1 railway CSX says it plans to invest around $2.3 bn in its business in 2013 supporting initiatives to help meet long-term demand for railfreight, improve customer service and support the company's plans for long-term growth.
CHANNEL Tunnel operator Eurotunnel says it had a record year in 2012 with a 14% increase in turnover to €993.1m. Passenger traffic breached the 300 million mark in October 2012 since the tunnel opened in 1994.
BNSF Railway, the second largest Class 1 railway in the United States, says it will increase capital investment this year by 11% to $US 4.1bn. This includes $US 2.3bn for infrastructure improvements, and $US 1bn for motive power and rolling stock.