EUROPE: Virgin Group is seeking partners to invest in its planned launch of international high speed train services through the Channel Tunnel.
On March 9, the Financial Times reported that Virgin Group is seeking to raise £300m in equity and £400m in debt.
A Virgin Group spokesperson told Railway Gazette International that ’the cross-Channel route is ripe for change and would benefit from competition. We think Virgin is the right brand to deliver this, given its award-winning experience in the train industry, and track-record for building globally successful travel companies.
‘While Virgin is not committing to launching a service just yet, we are seeking investment from like-minded partners to invest alongside Virgin, and we are delighted with the progress made so far.’
Meanwhile, UK industry regulator the Office of Rail & Road is in correspondence with incumbent operator Eurostar and aspiring cross-Channel new entrants Virgin and Evolyn regarding the procedures for seeking access to the Temple Mills depot in east London. ORR has also commissioned independent consultants to conduct a study of available capacity at the facility.
