New Zealand Railways CorporationThe New Zealand Railways Corporation (NZR) is a state-owned enterprise, created in 1981 to replace the then New Zealand Government Railways Department. Formerly the national railway operator, the trading functions were split in 1990 to form a new SOE, New Zealand Rail Limited. From then on, they were separate companies. New Zealand Rail Limited was later removed from the list of SOEs in the State-Owned Enterprises Act 1986, privatised and later renamed Tranz Rail Holdings Limited by the new shareholders. A subsequent ownership change of Tranz Rail has resulted in the present name of Toll NZ Limited. New Zealand Railways Corporation itself, however, still exists as an SOE. Its primary function today until mid-2004 was to own the land on which tracks are situated, and to collect a peppercorn rental from Tranz Rail (since renamed Toll NZ) each year for it. Its present function, since the Crown's buyback of certain Toll NZ assets (such its lease on the rail corridors), is track management. Affectionately known in its heyday before separation in 1990 as Railways, it was at one stage one of New Zealand's biggest employers. Sources
Categories: Transportation in New Zealand |
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