News in brief...
Eversholt Rail completes refinancing deal The Group announced the completion of its new £600 million senior debt financing, which provides additional funding capacity for investment in rolling stock and allows repayment of existing bank facilities. The financing, which has been syndicated through 11 banks, includes a £100 million five-year term loan facility and a £500 million five-year general purpose revolving credit facility, which can be extended by up to two years by agreement. Mary Kenny, CEO, said: ‘This puts
Eversholt Rail in a strong position to respond to future investment opportunities for both our existing fleets and in new build.’
More than £100 million of work sponsored by Railway Heritage Trust Sir William McAlpine, chairman of the Railway Heritage Trust handed over a cheque for £150,000 to mark completion of the restoration of the Abbey Street underbridge in Bermondsey. This meant the RHT has now sponsored work to the value of more than £100 million since it started work in 1985. It has contributed £44.7 million of its own funding towards this achievement.
ScotRail franchise shortlist named Five Toc’s have been shortlisted by the Scottish government to bid for the ScotRail franchise, which is due for renewal in 2015. Transport minister Keith Brown said Abellio, Arriva, FirstGroup, MTR and National Express had passed the pre-qualification stage of the process as they had demonstrated ‘an understanding of, and a commitment to realise, our ambitions for a transformed rail service’. FirstGroup currently holds the franchise.
Rail industry creates unified voice
The RDG will be responsible for policy formulation and communications, with ATOC combining its functions with resources from Network Rail to operate for the RDG as a whole. ATOC chief executive Michael Roberts is the new director general of the RDG, succeeding Graham Smith.
T The announcement of the change stated: ‘The combination of resources from ATOC and
Network Rail also signals the RDG’s intent to work increasingly in partnership and with common purpose, mirroring developments elsewhere in the industry.’ ATOC will continue, under Michael Roberts, to run the various rail businesses’ services such as
National Rail Enquiries, Rail Settlement Plan and Staff Travel and the Commercial, Operations and Engineering schemes. The ATOC board will change its main focus from policy to ensuring a co- ordinated approach to business service provision. Tim O’Toole, RDG chairman and chief executive of FirstGroup, said: ‘Greater coordination among the train operators, freight companies and Network Rail is the next logical step for the industry to evolve to the next stage of capability. The combination of ATOC resources with Network Rail will provide clear, unified leadership for the industry and ensure it is best placed to build on its unmatched record of success.’ Sir David Higgins, RDG deputy chairman and Network Rail chief executive, said: ‘The industry’s commitment to work more closely is delivering real improvements to safety, service quality and efficiency. A more effective, better resourced, RDG will help us achieve more for those we serve.’ Michael Roberts said: ‘The new arrangements are an exciting opportunity to work even more
closely with colleagues across the industry. The team and I very much look forward to supporting group members in their passion to drive forward solutions that benefit passengers, freight users and taxpayers.’ However, the new arrangements do not go far enough according to Labour’s shadow rail
minister, Lilian Greenwood, who said: ‘This announcement underlines the case for further reform. The Rail Delivery Group is not fully representative of the rail industry and it is lacking in transparency, despite its increasing influence over government policy. Ministers must now ensure essential decisions that affect passengers are subject to proper levels of scrutiny, not hidden away behind a cloak of commercial confidentiality.’ The new combined ATOC/RDG policy and corporate affairs team will consist of 18 people based at 200 Aldersgate Street, London - ATOC’s existing offices.
Strengthening Britain’s train building industry ‘Ultimately, a more innovative and
UK and abroad. The Rail Industry Supply Chain Forum will
T
bring together the Departments for Transport, and BIS and industry stakeholders to ensure government is working in partnership with the rail industry in line with its industrial strategy. Terence Watson, the UK president of
Alstom, will chair the forum and initially consider membership, operation and first priorities. Particular attention will be paid to developing supply chain capability and encouraging the expansion of small and medium sized enterprises (SME’s) across the industry. Said Watson: ‘With programmes like Crossrail, HS2 and regional schemes opening up, it’s clear that there are incredible opportunities to be grasped by the UK supply chain. I’m determined to help industry and government develop its strategic capability and also to develop our many rail SME’s to ensure that they can win more work both here and abroad.
Page 6 December 2013
he government has launched a new forum to help British businesses in the rail industry win work in the
capable UK supply chain that has a clearer understanding of government policies and investment plans should result in lower industry costs and a better, more reliable railway.’ The forum will aim to:
• provide the government with a better understanding of the capability of UK suppliers to inform rail investment plans and identify where support or intervention is required
• build the capability of UK suppliers so that they are more likely to win work both here and abroad
• reduce the risk of UK suppliers facing ‘feast and famine’ in their order books and provide early warning of potential problems to the industry
• improve how government and industry promote UK capability overseas. The Forum was announced by Secretary of
State for Transport, Patrick McLoughlin, and Secretary of State for Business, Innovation and Skills, Vince Cable, during a visit to Hitachi’s new £82 million manufacturing facility at Newton Aycliffe, County Durham.
he Rail Delivery Group (RDG) has taken over from ATOC as the new public voice of the railway.
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