Buyers welcomed aboard for popular southern rail rides

The TranzAlpine and TranzCoastal train services have been put up for sale by Toll New Zealand.

The company said expressions of interest were being sought for the two popular long-distance South Island passenger train services - the TranzAlpine links Christchurch and Greymouth and the TranzCoastal runs between Christchurch and Picton.

However, chief executive David Jackson said yesterday: "These services will only be sold if the right buyer can be found, otherwise Toll will continue to operate and grow and enhance the services in the South Island."

A Toll NZ spokeswoman said the move was not related to Australian parent Toll Holdings' takeover of ports operator Patrick, valued at A$6.1 billion. Patrick has agreed to Toll's improved bid to create Australia's largest transport group, likely to be worth around A$11 billion.

- REUTERS