Re: [Vic] Fast train services to go ahead, says Govt

[mauried@tpg.com.au (Maurie Daly)]

On Tue, 3 Oct 2000 19:10:12 +1000, "Steve" <hursteau@yahoo.com> wrote:

>
>> The obvious question then is , just what is the value of having a
>> lease at all, when it apparantly entitles you to nothing more than
>> running rights , which anyone can have without having to shell out
>> $164 million .
>> ie , just what did FA buy for their $164 million??
>
>The trains, and all the money the saved from not having to bid for the
>contracts already held by the govt run VLF...
>
>
Well what is the value of the trains?
The major value is in the loco fleet of which the best locos are the
Gs .
There are 33 Gs of average age 14 - 15 years.
Whats a G that old worth?
Well , based on the most recent sale of similar HP locos ,the ELs were
sold to CFCLA for $650K each and the ELs were only 6 years old .
That makes a G worth less than 650K.
All the rest of the loco fleet is so old ,it would be worth its scrap
value only,maybe a bit more for the X class.
The best value I could get for all the locos plus all the rollingstock
based on its age is around $45 -$50 M tops.
Even the VIC DOT in its primary infrastructure lease documents 
value the rolling stock at only $70M.
This means that the contracts are worth $90M to $110M ??
Unlikely , given that Vline freight was making a loss when it was
sold.
Something missing here?

MD
 .