NZ RAILWAYS WERE OVERVALUED
Posted on 09 October 2009
According to a report on Radio New Zealand, the country’s Labour Government paid NZ$690 million for the KiwiRail national railway network in July 2008, in a buy-back from private owners, but only four months later, the Treasury issued a valuation showing it was worth NZ$448 million.
KiwiRail expects no state subsidies from 2010 onwards and transport minister Steven Joyce wants to move to a more commercial footing, in the belief that this will improve productivity and help get freight off the roads and onto rail.
Related posts:
View Comments to “NZ RAILWAYS WERE OVERVALUED”