By PAM GRAHAM
Tranz Rail and its owner, Toll Holdings, will get the bill for repairing flood damage to the rail network, only weeks before handing it over to the Government.
Under the track buyback agreement negotiated last year, Tranz Rail has to ensure the network does not deteriorate before it is
sold to the Government.
The deal, which could have been done at anytime since December 18, is expected to go through at the end of the month.
Toll was working on cost estimates of damage, chief financial officer Neil Chatfield said yesterday.
The floods in the central North Island put the main trunk and other lines out of action and derailed part of a milk train at Oringi.
The Oringi washout and a 100m washout at Bunnythorpe were nearly repaired and two 20m washouts south of Taihape should be repaired by Friday, Tranz Rail spokeswoman Sue Foley said.
Trains would then be able to use the Manawatu Gorge and Wairarapa lines to get to Wellington.
Once washouts on approaches to the Longburn bridge south of Palmerston North were repaired, probably by Sunday, the main trunk line would be back in operation again.
The bridge was not structurally damaged as earlier feared.
It would take longer to fix a 800m washout and damaged stands on a bridge at Whangaehu on the Marton to New Plymouth line.
Chatfield was not saying if the company regretted not completing the track sale deal earlier.
National Party deputy finance spokesman John Key said his part had not yet developed policy specifically on rail network ownership.
He recognised there was a funding dilemma between road and rail but was sceptical that buying the network solved it.
National would monitor how the Government ownership of the track went.
"We may live with it unless there is a better solution," he said.
