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Reliance Rail rejigged

15 February 2012

The New South Wales state government has reached agreement with the financial guarantors and lenders to the Reliance Rail PPP to restructure the troubled rolling stock concession. The government is to invest A$175 million ($188 million) in Reliance Rail Pty Ltd in 2018, subject to the delivery of all 78 eight-car Waratah trainsets and two spare vehicles by that date. In return it will take over full equity...

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