New Zealand Windfall to Buy Back Toll NZ

A NZD$175m windfall could help the New Zealand Government buy back national rail service Toll NZ.

Finance Minister Michael Cullen has announced that a special dividend from energy company Meridian Energy would be used towards the purchase of Toll NZ's rail and ferry operations, writes the The New Zealand Herald.

The government is expected to make Toll NZ start paying the full price of access to the government-owned rail network.

The New Zealand Government aims to improve the rail system as part of widespread plans to curb greenhouse gas emissions.

By staff writer