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Rail News: Issue 331 1 Jul 2008

New entrant to UK train leasing market wins TfL contract

A partnership between National Bank of Australia and Sumitomo Mitsui Banking has become the first major new entrant into the rolling stock leasing market. The joint venture, QW Rail Leasing, has been awarded the contract to supply London Overground’s new fleet of 188 electric trains by Transport for London.

TfL had previously intended to buy the trains stating that it did not want to pay the “mark up” charged by the ROSCOs. However, it decided to change its strategy in order...

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