NEW ZEALAND: The final structure of the renationalised rail industry came into effect on October 1. Operator KiwiRail and infrastructure manager Ontrack are now separate operating units of New Zealand Railways Corp, the legacy body which held remaining assets after the now-reversed privatisation in the 1990s.
The previous NZ Railways Corp board stepped down with effect from September 30, being succeeded by a board led by former Prime Minister Jim Bolger. Thanking the retiring members, Finance Minister Dr Cullen said 'the direction and purpose of the crown's ownership of rail has changed and it is the view of cabinet that a new board should lead rail into the next phase of development.'
Cullen announced an additional NZ$121m of funding for rail on October 1, and said the new board will 'report to ministers early next year on their view on their investment and funding needs for the business going forward'.
