THE concessionaire of Newcastle Tyne & Wear Metro DB Regio has selected Wabtec to refurbish the network's fleet of 90 two-car trains in a deal worth £25.2 million. The refurbishment programme will run until 2015 with the work being carried out at Wabtec's Doncaster facility.

AFTER three attempts, Australian receivers KordaMentha have finally found a buyer for FreightLink after agreeing terms with Genesee & Wyoming (G&W), United States.

REVENUE operation has begun on South Africa's Gautrain Rapid Rail Link just three days before the Soccer World Cup kicks off in Johannesburg. The first section of the network to open is the 17km line between OR Tambo International Airport and Sandton in Johannesburg, which was officially inaugurated on June 5. The line has four stations with a journey time of 15 minutes between the airport and Sandton.

A CONTRACT to install slab track on Taipei's airport express metro line has been awarded to Rail.One, Germany, which will supply its Rheda 2000 ballastless system.

KAZAKHSTAN Railways (KTZ) has selected KTZ - Ansaldo STS Italy partnership to design, supply, install, and commission signalling systems and telecommunications for the 300km Zhetygen - Korgas line in the southeast of the country. The Euros 70 million contract was signed by Ansaldo STS CEO Mr Sergio de Luca and KTZ chairman Mr Askar Mamin today in Almaty.

ALSTOM and its Russian partner Transmashholding (TMH) today signed a memorandum of understanding establishing a mutual cooperation agreement with Kazakhstan Railways (KTZ) to manufacture electric locomotives.

THE GREEK government confirmed today that it plans to sell 49% of Hellenic Railways Organisation (OSE) as part of a privatisation programme designed to reduce the country's massive public debt.

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.

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.