Railway Reform: Toolkit for Improving Rail Sector Performance - ppiaf

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Railway Reform: Toolkit for improving Rail Sector Performance Case Study: Russian Railways System (2010-2015)”, and passed “The Strategy of Railway Transport Development in Russian Federation to 2030” to tackle these challenges. The Strategy aims to increase asset renewal and resolve remaining economic challenges. Recently, Prime Minister Putin authorized RZhD to use proceeds from subsidiary IPOs to finance the Strategy. In February 2010, RZhD announced share sales in 30 subsidiaries, including First Freight Company, TransContainer, and Refservice, but will retain controlling shares in each. The World Bank Page 400
Railway Reform: Toolkit for improving Rail Sector Performance Case Study: Virgin Trains Case Study Virgin Trains This case study describes how a successful private railway operating company doubled passenger numbers over a period of 12 years, partly through sound commercial management. Second, it describes the experience and lessons learned from franchising in an uncertain environment created by a major infrastructure investment by a separate railway infrastructure company. 1 Rail Franchising in Britain After nearly 40 years in the public sector as British Rail (BR), the British railway industry was completely transformed over the period 1994-1997, with the separation of infrastructure from operations, franchising of passenger services, and selling off freight operations. 183 BR’s passenger rolling stock was divided into three rolling stock leasing companies (ROSCOs), which were sold in 1996. Since then, the ROSCOs have also leased most new locomotives, coaches, and multiple units to passenger train operating companies. Since privatization, passenger rail services in Britain have been operated by private sector companies mostly through franchises. Open access operators also serve some lines on a purely commercial basis. The right to run passenger train services rights were franchised to 25 (now 20) train operating companies (TOCs), creating ‘competition for the market’. To make frequent franchising competitions possible, the TOCs were privatized with no significant asset base; they buy access to infrastructure services from Network Rail under terms approved by the independent Office of Rail Regulation. Franchises were let for 7-15 years; the longer franchises were awarded in return for commitments to invest. 1.1 Virgin Rail Franchises British bus operators won most of the franchises, in part due to their expertise in cost cutting, gained during the 1980s when they were privatized. Two franchises, West Coast and Cross Country, were awarded to the Virgin Rail Group, a private limited company that is a subsidiary of Virgin Management, another private limited company controlled by Richard Branson, who established Virgin Atlantic airlines. Virgin’s successful bid for the rail franchises was in part due to its aggressive timetable for replacing the aging fleet. 183 More details on the railway reform in Britain can be found in “Reforming Railways— Learning from Experience” (http://www.cer.be/publications/books/2099-newreforming-railways-learning-from-experience) and “Privatizing British Railways: Are There Lessons for the World Bank and Its Borrowers?” (http://siteresources.worldbank.org/INTTRANSPORT/214578- 1099319223335/20273748/Final%20Version%20for%20Publication.pdf) The World Bank Page 401
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Railway Reform: Toolkit for Improving Rail Sector Performance - ppiaf

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