Railway Insider - Veolia Transport takes over 50% of Hong Kong Tramways

Veolia Transport takes over 50% of Hong Kong Tramways

04-16-2009 10:58

Veolia Transport China Ltd. signed an agreement for the acquisition of 50% of Hong Kong Tramways from the current operator, Wharf Transport Investments Ltd., subsidiary of Wharf Holdings, located in Hong Kong. The value of the contract was not disclosed. According to the information provided by Wharf Holdings, the two companies will set the basis for a joint branch that will exploit the tram network in Hong Kong. "A number of parties have approached us over recent years interested in our tram operations. Veolia Transport has shown great sincerity through more than two years of discussions and study before coming to the arrangement today'', said Frankie Yick Chi-ming, director of Wharf Transport.
The 163 double-deck tram network, which carries around 240.000 passengers per day, was put in service in 1904 and is considered a symbol of the city. The Transport Bureau in Hong Kong outlined "the importance of keeping the tradition of the tram service, including the exterior aspect and design of the wagons". Veolia assured the Transport Bureau that the wagons will be kept as they are, since they are considered to be "a unique testimony of cultural inheritance". The opinions of the passengers will also be considered before implementing other improvements.

Source: www.reuters.com, www.info.gov.hk, www.thestandard.com.hk

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