[RailTransportation] TRANSPORTATION: RAILROAD: PASSENGER : MARKET SHARE : FINANCIAL OUTLOOK : COUNTRIES: SPAIN: Spanish Trains Chief Gauges Global Market

 

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TRANSPORTATION: RAILROAD: PASSENGER :

MARKET SHARE :

FINANCIAL OUTLOOK :

COUNTRIES: SPAIN:

Spanish Trains Chief Gauges Global Market

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Spanish Trains Chief Gauges Global Market

March 27, 2016 11:07 am

Tobias Buck in Madrid

FT

http://www.ft.com/cms/s/0/ 68d714a6-d4d0-11e5-8887-98e7feb46f27.html#axzz447neQnwX

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A shorter URL for the above link:

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http://tinyurl.com/z9t58og

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Renfe has a huge opportunity. We now have the chance to become a great international railway operator, Mr Vquez told the Financial Times in an interview. But we need to show that we can be efficient in our own country, otherwise we wont get any contracts from abroad.

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The companys turn towards profitability follows a difficult period for Renfe, and a torrid one for the broader Spanish economy. Less than three years ago, the operator suffered one of the deadliest rail crashes in Spanish history. Seventy-nine people were killed and 140 injured when a passenger train derailed close to Santiago de Compostela, apparently as a result of human error.

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The crash happened just as Spain was emerging from a deep recession brought about by a decade-long debt-fuelled construction bubble. Along with hundreds of thousands of empty homes and a string of vanity projects, including ambitious museums and ghost airports, the boom left Spain with one of the best high-speed rail networks in the world, along with lavish new stations and top-of-the-range rolling stock.

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The days of heedless expansion are long gone, and some Spanish politicians are calling for funds already earmarked for the completion of the countrys high-speed network to be spent on education instead. The legacy, however, is there: only China and Japan boast more kilometres of high-speed railways than Spain.

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The complete article may be read at the URL above.

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