The construction of the rail link to Pingxiang, a city near China’s border with Vietnam, will start in the second half of this year, the paper said citing the local development and reform commission.
The capital witnessed light rainfall early Tuesday, adding to the chill. It helped ease heavy fog conditions as also flight operations at the Delhi airport, but rail services continued to be hit with 50 trains affected. “There is a western disturbance over Jammu and Kashmir, because of which Delhi witnessed light rainfall this (Tuesday) morning,” [...]
These are among US$444 billion ($592 billion) worth of potential private- sector-led projects by companies including Dialog Group Bhd. and IOI Corp. that may turn around an investment slump and help the country achieve developed nation status by 2020, according to Idris Jala, chief executive officer of the government’s Performance Management and Delivery Unit, or Pemandu.
SMRT (S53.SG) +1.5% at 6-session high of $2.06 on optimism over rail operator’s long-term prospects as Singapore government intends to spend $60 billion over next decade to double city-state’s rail network, says Dow Jones.
Investment includes rolling out Downtown, Thomson, Eastern Region lines, according to PM Lee Hsien Loong in his annual National Day Rally speech delivered yesterday. “SMRT is likely to be a long-term beneficiary of the decade-long rail network development programme,” says OCBC, which has Hold call with $2.16 target. Despite current gains, stock still consolidating in tight $2.01-$2.11 band of past 4 weeks on light volume, as investors generally still wary of near-term earnings pressure following SMRT’s recent warning of continued losses from new Circle Line operations.
“We see risks of a shortfall in CCL (Circle Line) ridership and higher start-up costs to operate CCL,” says Deutsche Bank, which has Sell call with $1.90 target.
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Singapore will spend $60 billion over the next decade to develop and double its rail network, Prime Minister Lee Hsien Loong said in a televised speech today.
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The train giants of France and Germany are at war over European high-speed rail
AT THE Gare de l’Est in Paris, Franco-German co-operation seems on track. Deutsche Bahn inter-city express (ICE) trains glide in from Frankfurt and SNCF sends trains deep into Germany, thanks to a joint venture between the two firms. Every train has a French and a German controller on board. Despite wrangling over details—French unions, for instance, refused to let their head conductors serve meals to first-class passengers, so the Germans have to do it all—they get along well. “When we’re on the same train, we’re a team,” says Marine Dubois, the French controlleur on the 13.09 ICE to Frankfurt.
The joint venture between Deutsche Bahn and SNCF, the German and French rail giants, was launched in 2007 amid high hopes. Boosters predicted an open European market where trains and passengers would cross borders without fuss. But old national rivalries are resurfacing. Relations at the top have turned nasty. The joint venture could even be at risk. …
SMRT (S53.SG) is off 0.4% at $2.31 following news Middle Eastern property developer Nakheel has called off contract for Singapore rail operator to run its Palm Monorail development in Dubai, according to Dow Jones.
Bidders for Californian high-speed rail may have their past raked over
LAWMAKERS in California voted unanimously on June 29th to approve a proposed law which would force any company bidding for contracts to build the state’s new $43 billion high-speed rail system to disclose whether they transported Jews, American soldiers or others to concentration camps during the Holocaust. Its author, Bob Blumenfield, a Democrat, specifically highlighted the wartime record of SNCF, which nowadays operates France’s TGV high-speed trains. The French firm expects that the bill will clear all further legislative hurdles, including the sign-off by the normally veto-prone governor, Arnold Schwarzenegger.
Providing the details required by the law will be fairly easy for SNCF. Facing questions about its record, it commissioned a study in 1992 on how it deported Jews en route to Nazi death camps. The report described how it carried out the Vichy government’s orders with no protest or resistance except for isolated acts by individual railwaymen, and took payment for the shipments. The firm will also have to state that despite a series of lawsuits it avoided paying compensation for its acts: it successfully argued that it was under the orders of the French government and German occupiers. …
Decision by Singapore, Malaysia to relocate Tanjong Pagar KTM railway station, which now sits on land owned by Malaysia, to Woodlands train checkpoint by July 2011, as well as jointly develop other Malaysia-owned land parcels in Singapore will have minimal impact on city-state in near term, according to analysts Dow Jones spoke to.
Mainboard-listed Midas Holdings announced today that its joint venture company, Nanjing SR Puzhen Rail Transport Co. (NPRT) was awarded a contract worth RMB474 million ($96.6 million) to supply metro train sets for the Suzhou Metro Line 1 project.
SMRT (S53.SG) is up 1.5% at $2.08, just off all-time high of $2.10 set in early trade, on broad market uptick, expectations of better earnings as ridership set to increase when second phase of rail operator’s Circle Line in Singapore opens end of next week, says Dow Jones.
Separatist guerrillas carried out an improvised explosive device (IED) blast that damaged three meters of rail track in south Kashmir’s Pulwama district, an official said Friday.
“Around 10 p.m. last evening (Thursday), militants carried out an IED blast blowing off two to three metres of the rail track at Gulbugh village near Kakapora town of Pulwama [...]
Yongnam Holdings (Y02.SG) has gained 1.9% to hit two-month high of $0.27 in active trade, extending Friday’s 10.4% gain, reported Dow Jones Newswires.
Newsflow on construction group has been thin since release of 4Q09 results late last month, but investor interest unabated based on expectations Yongnam well-positioned to land more contracts in Singapore, Asia, Middle East.
French national rail operator SNCF has apologised for a note that singled out Romanians over baggage thefts and triggered accusations of xenophobia. The note asked employees to bring “all activities of Romanians” to the attention of rail security services.
A minute’s silence is held across the Belgian rail network in memory of those who died in Monday’s train crash. Authorities say 18 people were killed and 171 injured, while three more are unaccounted for.
Pteris Global says it has been awarded an $18 million contract to design and supply a Baggage Handling System and Container Handling System for Taoyuan International Airport City Access MRT System, Taiwan.
Pteris Global says this is the first downtown train station baggage check-in project that the company has successfully secured.
Suspected separatists have blown up a railroad track in India’s remote northeastern Assam state. No one was hurt in Sunday’s explosion in Assam, but the blast damaged the railway track near Deka Mising Gaon in northern Assam, said Bhaskar Mahanta, Assam’s inspector-general of police.
