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3/23/2005



Rail News: Rail Industry Trends

U.K.'s rail authority renews GNER franchise



Sea Containers Ltd. subsidiary GNER Ltd. recently signed a 10-year franchise with the United Kingdom’s Strategic Rail Authority. GNER’s current franchise — which it has held for the past nine years — expires April 30.

Sea Containers will invest $9 million of capital into GNER to provide a $55 million standby credit facility.

During the next 10 years, GNER plans to add three diesel train sets to the authority’s fleet and overhaul the existing 10 diesel trains. The company also plans to electrify 15 track miles between Leeds and Hambleton Junction, upgrade stations between Leeds and Doncaster, install wireless fidelity service on all trains, and build an integrated control center with Network Rail.



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