ONTRACK Chief Executive William Peet welcomed the transfer today of Toll New Zealand’s rail and ferry businesses into public ownership.
“Owning the rail operational business will allow the Government to invest in it and help us get rail back on the transport agenda,” Mr Peet said.
Prime Minister Helen Clark unveiled the new name for the rail company and its new red, grey and yellow livery at a ceremony at Wellington Railway Station to mark the completion of the purchase by the Government.
Former Prime Minister Jim Bolger will head the KiwiRail establishment board, which will manage the rail and ferry services, pending determination of the final shape of the relationship between KiwiRail and ONTRACK.
William Peet said it was an exciting time to be working in rail.
“There are challenges ahead as we work through the changes in the industry but we are entering a new era in the development of New Zealand’s railways,” Mr Peet said.
More information about KiwiRail is at www.kiwirail.co.nz