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CATERPILLAR subsidiary Progress Rail Services says it has signed a definitive agreement to purchase US locomotive manufacturer Electro-Motive Diesel (EMD) for $US 820 million from private equity groups Berkshire Partners and Greenbriar.

EUROTUNNEL is set for another major expansion of its railfreight business following the announcement that it has acquired Britain's third-largest operator First GBRf from FirstGroup for £31 million.

RAIL transport has demonstrated a remarkable resilience to the arctic blasts from the global economic and financial crisis. In many countries, rail has bucked the downturn as it has benefited from government economic stimulus packages. But can rail continue to prosper in the light of the latest crisis in the Euro currency zone and the dawning realisation by many governments that they need to reduce their bloated budget deficits and fast?

 

With debts of nearly €10 billion, Hellenic Railways Organisation (OSE) has come under international scrutiny for its role in the Greek economic crisis. Keith Barrow examines how easy credit has sustained a spiral of inefficiency at OSE that looks set to end in drastic corrective measures.

 

While deregulation of maintenance services might be more efficient and effective than in-house servicing, it should still preserve the high safety standards of railways, says Michael Walter, CEO of GHH-Valdunes.

 

RUSSIAN Railways (RZD) president Mr Vladimir Yakunin and RZD vice-president Mr Oleg Toni presided at the holing-through ceremony for one of the three service and evacuation tunnels on the 48km rail link under construction from Adler to serve the 2014 Winter Olympics in Sochi. "The project is on schedule," Yakunin declared.

RUSSIAN Railways (RZD) has selected a joint venture of Siemens and Russian partner Sinara Group a to supply 221 double-section electric freight locomotives, the first of which will be delivered within six months. The class 2ES10 locomotives will feature asynchronous traction drive and will be assembled at the Urals Railway Machinery Plant in Verkhnyaya Pyshma, near Yekaterinburg in Sverdlovsk region.

GERMAN RAIL (DB) subsidiary DB Schenker Rail is poised to launch its first open-access railfreight services in Bulgaria after announcing it has been granted an operating license for the national network.

A CONSORTIUM of 13 coal mining companies has launched a $A 4.85 billion ($US 4 billion) bid to buy Queensland's coal network from the state government in an attempt to scupper the planned partial-flotation of Queensland Rail (QR).