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The East Rail Line Extension in Hong Kong now has Siemens Mobility CBTC technology.

RailFactor News 18 May 2022 (Hong Kong) The new signalling system-equipped East Rail Line Cross-Harbour Extension is now available for revenue service. 46 km East Rail Line now connects Chinese Mainland border, New Territories, Kowloon to Central Business Districts on Hong Kong Island The East Rail Line's automatic train control system improves operational efficiency. " " We have successfully implemented more than 40 CBTC systems across the world.           This important project further underscores our leading position in the field of urban mobility.” Andre Rodenbeck, CEO of Rail Infrastructure Siemens Mobility The East Rail Line Cross-Harbour Extension in Hong Kong successfully commenced passenger service on May 15, 2022, with Siemens Mobility’s Communications-Based Train Control system (CBTC). This completes the automation of the 46 km long East Rail Line connecting the Chinese Mainland border to the central business areas on Hong Kong Island and becomes the fourth railway line crossing Victoria Harbour. The Siemens Mobility digitalized signaling system helps provide passengers with the ability to reach the commercial, convention and financial hubs in the Wan Chai North and Admiralty areas in a faster, safer, and more seamless way. “The opening of the East Rail Line Cross-Harbour Extension is a significant milestone for public transportation in Hong Kong, which provides the people of Hong Kong with a fourth cross-harbour rail connection. Our state-of-the-art signaling solutions will increase the reliability, availability, and efficiency of the entire 46 km and 16 station East Rail Line,” said Andre Rodenbeck, CEO of Rail Infrastructure at Siemens Mobility.  Siemens Mobility equipped CBTC at 16 stations on the East Rail Line, while also modernizing and expanding the railway network by 6 km and three additional stations. The radio-based technology enables real-time data to be captured on vehicle position and speed conditions. This allows the East Rail Line to safely accommodate an increased number of vehicles on the line at a greater frequency. Additionally, the upgraded digitalized system provides the ability to continuously receive updates on system status which improves operational efficiency, resulting in fewer delays and more up-to-date travel information. Along the East Rail Line and its Cross-Harbour Extension, the Siemens Mobility solution Airlink has been installed for radio transmission, and automatic train supervision is realized through the operations control system. Electronic interlockings and Trainguard MT (TGMT) Wayside Control Units have been installed for efficient train control. Eventually, a total of 37 passenger trains and 22 locomotives will be equipped with Siemens TGMT On-Board Computer Units (OBCU). The new system is controlled and monitored by the Operations Control Center in Tsing Yi. The Siemens Mobility CBTC solution Trainguard MT is the most extensively deployed automatic train control system in the world and is used by many operators, including Paris, Beijing, New York, London, and Copenhagen. Source https://press.siemens.com/global/en/pressrelease/hong-kongs-east-rail-line-extension-opens-siemens-mobility-cbtc-technology?ste_sid=5f0ccc19c322d2f479afda64df89c2d9

May 19 at 04:37 AM

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Kelana Jaya Line LRT service disrupted by brake calliper hydraulic leakage

Malaysiakini May 10, 2022 (Malaysia) The Kelana Jaya Line Light Rail Transit (LRT) service was disrupted for more than four hours, affecting around 12,000 passengers this morning( May 10 ), by a stalled train that suffered a brake calliper hydraulic leakage. Rapid Rail Sdn Bhd chief executive officer Amir Hamdan said the leakage caused the brake disc not to be able to be released and required manual release by the maintenance team. Source https://www.malaysiakini.com/news/620775

May 19 at 02:42 AM

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LRMC test runs LRT-1 4th gen trains

Manila Times May 10, 2022 (Philippines) LIGHT RAIL TRANSIT-Line 1 (LRT-1) private operator Light Rail Manila Corp. (LRMC) has announced the start of dynamic test runs for the brand-new fourth generation (gen-4) train sets along its existing line. The gen-4 trains will be seen running along LRT-1, beginning Wednesday night, May 4, 2022, and thereafter, during off-peak hours and weekends to demonstrate reliability and performance, including their compliance with the technical and operational requirements. "We would like to inform our passengers that they will now start seeing brand-new gen-4 trains along the LRT line 1, but they still cannot ride these gen-4 trains yet. We are conducting these trial runs to simulate regular commercial operations and to make sure that these trains are safe for the passengers once we put them to commercial service soon," shares Enrico Benipayo, LRMC chief operating officer. A total of 30 gen-4 train sets — each consisting of four light rail vehicles — will be put to a series of dynamic test runs in phases with two to three train sets crossing the main line per day. LRMC train operators will be driving the new train sets, manufactured by Mitsubishi Corp. and Construcciones y Auxiliar de Ferrorcarriles of Spain. Each gen-4 train set needs to complete a total of 1,000 kilometers prior to acceptance by the grantors and their eventual handover to LRMC for commercial use. "We would like to assure our passengers that this activity will not affect the normal operations of LRT-1," adds Benipayo. Source https://www.manilatimes.net/2022/05/10/public-square/lrmc-test-runs-lrt-1-4th-gen-trains/1843034

May 19 at 02:35 AM

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Hong Kong railway fans queue overnight to try new cross-harbour train

Bangkok Post (SOUTH CHINA MORNING POST) 15 May 2022 (Hong Kong) Hong Kong railway fans on Sunday rushed to board the first train at dawn on a newly opened, cross-harbour section of the city's costliest MTR project, with the long-awaited launch coming off years of repeated delays and cost overruns. Despite the light rain, hundreds of train enthusiasts had lined up overnight outside the entrance of Exhibition Centre station in north Wan Chai to be the first passengers on the stretch. The Hung Hom-Admiralty section - via Exhibition Centre station in Wan Chai north - is more commonly known as the cross-harbour extension of the East Rail line. It is the fourth cross-harbour railway route connecting Hong Kong Island with Kowloon and the New Territories. Fans armed with GoPro cameras, selfie sticks and railway memorabilia chanted "open the gates" and "let us in" as they excitedly waited for doors at the Exhibition Centre station to open at 4.35am. Once through, they dashed down to the platform for the first train set to depart at 5.30am. Railway fan Jason Law, who became an internet sensation after he sang a song about the opening of the Tuen Ma line last year, was among the hundreds who queued overnight. "I have been waiting for this day for so long. This is like a post-DSE gift from the MTR," gushed the 17-year-old, who had just finished his Diploma of Secondary Education papers, or university entrance examination on Friday. In anticipation of the opening of the Hung Hom-Admiralty section, the MTR Corporation had even produced a music video Excited about Harbour Crossing on the East Rail, which was released on Thursday evening. The number is a remake of folk song Greensleeves and features seven people from different sectors, including Canto-pop singer Stephanie Cheng and badminton Olympian Tse Ying-suet. Train enthusiast Law, who first sung about the Tuen Ma line to this tune, also made a cameo in the music video. Students Donald Poon, 15, and Toto Leung, 14, were among the hundreds who rushed to the platform once gates opened. "We were taking photos of the last train at the old platform at Hung Hom at midnight. After that we came straight to queue up. We're very excited about this historic moment," said Poon, who brought along a foldable stool for the overnight wait. Excited commuters took photos of the different features in the station, including the shell of a World War II bomb which was uncovered during the construction of the site. Passengers cheered as the doors of the train closed, beginning their first journey across the harbour on the extension line. MTR staff also gave out free masks and badges to commuters to commemorate the special occasion. The masks come in five designs, representing the new Admiralty and Exhibition Centre stations, and interchange stations Hung Hom, Kowloon Tong and Tai Wai. Following the opening of the cross-harbour extension, the old platform at Hung Hom serving the East Rail line for the past 47 years will be decommissioned. Commuters switching from the East Rail line to the Tuen Man line no longer have to walk three minutes across the station for their transfer. The new East Rail platforms are located one storey below those for the Tuen Ma line, easily accessible via escalators. Passengers in northern Hong Kong can now also travel across to the island side to reach commercial and financial hubs in the Admiralty area without making transfers. The new section will extend the East Rail line for almost 46km, with a total of 16 stations. With the new opening, Admiralty station will become a mega interchange for four MTR lines - East Rail, Tsuen Wan, Island and South Island. A trip from Admiralty across the harbour to Hung Hom takes approximately seven minutes, while it takes 13 minutes to travel to Kowloon Tong, a major interchange on the Kwun Tong line. The long-overdue opening of the Hung Hom-Admiralty section brought an end to a project plagued by construction delays, glitches and cost overruns. The MTR Corp and its contractors have been under investigation by a government-appointed commission of inquiry over shoddy construction work and cover-ups. The project ended up running HK$10 billion over its budget, costing HK$90.7 billion. Source https://www.bangkokpost.com/world/2310330/hong-kong-railway-fans-queue-overnight-to-try-new-cross-harbour-train

May 19 at 02:27 AM

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Citing debt, PKR MP questions MRT3 financial model

Malaysiakini May 16, 2022 (Malaysia) Tanjong Malim MP Chang Lih Kang has expressed doubts about the sustainability of the government’s financial model for the MRT3 project. In a statement today, the PKR lawmaker alleged that the financing entities and operator for rail projects, Prasarana Malaysia Berhad and DanaInfra Nasional Berhad, had breached their debt levels... Source https://www.malaysiakini.com/news/621376

May 19 at 02:20 AM

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Alstom has been awarded a contract by Israel's NTA to design, develop, maintain, and finance Tel Aviv's Green light rail systems.

RailFactor News 17 May 2022 (Israel) Greater Transport Investment plan by Israel, t wo  new  tramlines  will  be  introduced. A 14 percent reduction in commute times on average, In  2030,  76  million  travellers  are  predicted.  Alstom, a member of the TMT Consortium (TLV Metropolitan Tramway Ltd.) and its partners Electra Ltd. & Dan Transportation, have been awarded a contract to design, build, maintain, and finance the Tel Aviv Metropolitan LRT Green Line by Metropolitan Mass Transit System Ltd (NTA). The project is valued at 2.6 billion euro and Alstom’s share is valued at €858 million euro.   Alstom’s responsibility includes the design, engineering, supply, integration, testing and commissioning of the railway system including tracks, electrification, power supply (Hesop, energy saving system), signalling, communication system and the supply of 98 Citadis XO5 trams. Electra will manage the design and construction of the civil works. System maintenance will be performed by a joint venture composed of Dan Transportation, Electra and Alstom.  “We are excited and grateful for the opportunity to support NTA in the development of the city’s urban network and serve hundreds of thousands of residents every day. We believe access to transport is an essential factor to promote and enhance social and economic progress. Everyone benefits from better access to public transport, reduced commute times, less congestion and lower carbon emissions. Alstom and our partners Dan Transportation and Electra Ltd., believe this project will contribute to the growth of the rail ecosystem in the country and support the creation of hundreds of new jobs,” said Eran Cohen, Managing Director Alstom Israel. This project is part of a greater Transport Investment plan by Israel to address the country’s growing mobility demand. To reduce congestion in Tel Aviv and support its 4,000,000 inhabitants, two additional tramways will be introduced (Green and Purple). The Green Line is the longer of the two extending for over 39km and 62 stations, of which four will be underground. The line will run from north to south of the city, connecting Holon and Rishon Lezion with the centre of Tel Aviv, Tel Aviv University, the industrial and business area in western Herzliya and the business area in Kiryat Atidim. The Green Line will have state of the art trams and is expected to move 76 million passengers in 2030.  The trams will operate in double units, 34 metres each with full low floor. The Citadis Xo5 trams will be designed and manufactured in Alstom’s centre of development for Citadis trams in La Rochelle. The other French sites involved are Le Creusot for bogies, Ornans for motors, and Villeurbanne for passenger information systems. Additionally, Alstom’s Fez facility in Morocco will provide harnesses, electrical cabinets and the Belgian site in Charleroi will provide electronic power with a new Integrated Traction and Auxiliary Converter in 1500 v and the Hesop energy saving system. Picture courtesy: https://www.alstom.com/ Source https://www.alstom.com/press-releases-news/2022/5/alstom-wins-israels-nta-contract-design-and-build-maintenance-and

May 18 at 07:07 AM

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Britain's Queen Elizabeth attends opening of London train line

Reuters  May 17, 2022 (UK) Britain's Queen Elizabeth, whose public engagements have been limited in recent months due to mobility issues, made a surprise appearance on Tuesday at a ceremony to mark the completion of a long-awaited London train line named in her honour. Elizabeth, wearing a bright yellow hat and coat and using a walking stick, was joined by her youngest son Edward and Prime Minister Boris Johnsonas she unveiled a plaque at Paddington Station. It is the latest public outing for the 96-year-old monarch who, despite missing the opening of parliament for the first time in almost six decades last week due to what Buckingham Palace calls "episodic mobility issues", twice attended a horse show at her Windsor Castle residence in recent days.  "In a happy development Her Majesty The Queen is attending today's event to mark the completion of the Elizabeth line," a Buckingham Palace spokesperson said. The $24 billion rail project was originally due to be opened in December 2018, but had been repeatedly delayed by issues with safety testing and signalling systems, even before the onset of the pandemic. Originally named 'Crossrail', the Elizabeth line will connect destinations west of London, including Heathrow airport and Reading with Shenfield in the east. It will open to the public on May 24. Elizabeth has been seen in public on only a few occasions since spending a night in hospital last October for an unspecified illness, after which she was told to rest by her doctors. She has since carried out nearly all her duties either remotely or in person at her Windsor Castle home and did not attend last week's state opening of parliament. Johnson said it was "wonderful" to see the queen open the train line, and she was in "such fine form". The prime minister said it was time to think about a new Crossrail line running north-south through London, which was put on hold during the COVID-19 pandemic. "I think we should be getting on with that. People say it is all changed, people are working from home. I profoundly disagree," he said. "Public transport is the thing that gives people opportunity." Source https://www.reuters.com/world/uk/britains-queen-elizabeth-attends-opening-london-tube-line-2022-05-17/

May 18 at 06:46 AM

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UK: PM says ‘we should be getting on’ with Crossrail 2

Yahoo News 17 May 2022 (UK) Boris Johnson has called for another multibillion-pound railway to be built in London after marking the completion of Crossrail. The Prime Minister said the Government would back Crossrail 2 – a proposed north-south rail link across London – but the capital’s businesses would need to develop a plan to pay for it. He said: “The real thing for us now is to think about Crossrail 2, the old Chelsea-Hackney line. “That is going to be transformative again. All the problems of commuters coming into Waterloo getting up to north London, you can fix that with another Crossrail. “I think we should be getting on with that.” Mr Johnson said “we should be looking at tax increment financing” for transport projects in the capital. This was used to fund the £1.1 billion extension of the Northern line to Battersea, south London, through business rates from the local area and contributions from developers. He made the comments at Paddington station after travelling on London’s new east-west railway the Elizabeth line following the completion of Crossrail, which cost £18.9 billion. Crossrail 2 is proposed to run between Hertfordshire and Surrey, via tunnels under central London. It has been estimated to cost £33 billion. Transport for London was ordered to stop consultancy work on the project in November 2020 as part of an emergency funding agreement with the Government. But Mr Johnson told the PA news agency: “We need all the partners to come together and say this is the right thing for our city and here’s how we’re going to do it. “Then we in central Government will study it, obviously we’ll give it our support. “But we need to see the business case originated by Transport for London, by London business, and we want it brought to us.” He added: “I’ve got absolutely no embarrassment as a former mayor of London about supporting great projects in London. “We’ve completed Crossrail but frankly there is more that we should be doing.” Source https://uk.news.yahoo.com/pm-says-getting-crossrail-2-155028725.html

May 18 at 06:40 AM

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Screeching halt: V/Line trains suspended amid communication fault

The Sydney Morning Herald May 18, 2022 (Australia) Victoria’s regional train service came to a total standstill following a “communications fault” on Wednesday morning. V/Line updated all passengers of the major disruption via Twitter, warning of significant delays as long as 90 minutes for all trains including the Bendigo, Geelong, Ballarat, Gippsland and Seymour lines. “All train services on the regional network are currently suspended due to a communications outage which restricts the ability for the V/Line control centre to communicate with trains on the network,” the Department of Transport said. Regional commuters took to social media to express their frustration, calling the train system a “joke” and questioning how a statewide network could be brought down by one failure. The Department of Transport said that engineers and communication partners addressed the issue and some services began to resume around an hour after the initial disruption. The Geelong and Gippsland lines remained severely delayed, and various coach replacements also remained in place. “We have implemented our backup communications system after an earlier communications fault and trains are returning at normal speed. Customers can expect delays of up to 60 minutes,” V/Line said. Metropolitan V/Line services were not disrupted. Last year a major power fault in Melbourne’s CBD sent the regional rail lines into chaos. Trains did not run for hours as bus replacements were put in place across the network. V/Line measures its performance monthly and promises to offer compensation when targets are not met. “Our reliability target is for at least 96 per cent of scheduled services to run,” V/Line’s website states. “Our punctuality target is 92 per cent ... On long distance services it is measured on time to 10 minutes 59 seconds.” At the time of publication, no compensation for disrupted regional travellers had been announced. Source https://www.smh.com.au/national/victoria/screeching-halt-v-line-trains-suspended-amid-communication-fault-20220518-p5amds.html

May 18 at 06:32 AM

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Sadiq Khan: London desperate for commuters to return after Covid

The Guardian 16 May 2022 (UK) City’s mayor reopens Bank branch of the Northern line after 17 weeks of closure for upgrade London is “desperate” for commuters to return and needs to keep investing to lure them back, its mayor, Sadiq Khan, has said as he reopened the Northern line via Bank station, a key connection into the City. Khan said the reopening was another milestone on the road to recovery after Covid. The underground branch had been closed for 17 weeks to build a new tunnel, track and concourse to alleviate congestion in the station, a key interchange for tube lines and the Docklands Light Railway. The commissioner for Transport for London, Andy Byford, said it had been completed “on time and on budget” – a critical point for TfL as it seeks to negotiate long-term capital funding for investment from the government. The full £700m Bank upgrade project, encompassing six years of work on the station and including better connections, accessible lifts, and a new station entrance, will be completed later this year. Khan said the reopening of “one of the most complicated stations in the world” was “another example of investment in public transport paying dividends, that will lead to an improved experience for commuters – we’re desperate to get people back to the office. “This is crucial. If you’ve been working from home for the last two years, we’ve got to make the offer of returning to the office – the journey – enticing.” TfL’s current emergency funding deal from central government, the latest £200m instalment after fare revenue dried up during Covid-19 lockdowns, will expire in six weeks, and the mayor hit out at ministers over the short-term “begging bowl” handouts to the capital. Khan said: “It’s ridiculous. It’s no way to run public transport in a global city like London. Our ability to do long-term deals, to get value for money, is being hindered by the government playing party politics with London. “We can’t stand still. We desperately need people back – but the government has got to understand we’ve got to carry on investing in the future. You will not get a national recovery without a London recovery – you don’t level up a country successfully by making London poorer, it’s not a zero-sum game.” Bank and the interconnected Monument station were used by 120 million people a year before the pandemic. Shravan Joshi, of the City of London Corporation, said the reopening of the Northern line’s City branch, connecting dozens of stations south and north in the capital directly to Bank again, was “fantastic news for the Square Mile as our sustainable recovery from the pandemic continues”. Passenger numbers at City stations such as Bank have lagged behind the general recovery, at 55%-60% of 2019 levels, but are significantly up from about 33% in January. Overall, midweek tube ridership has risen to about 70% of pre-pandemic levels, and almost 3m journeys were made last Thursday, the highest since the start of the pandemic. Weekend and leisure trips, even before the mass return of international tourists, have reached about 85% of pre-pandemic levels. The trend towards working from home is continuing to hit businesses in city centres, in the capital and elsewhere in the country. On Monday the bakery chain Greggs revealed that while its sales were growing, those at city centre locations catering to office workers were lagging behind those elsewhere. Source https://www.theguardian.com/uk-news/2022/may/16/sadiq-khan-london-covid-bank-branch-northern-line

May 18 at 05:30 AM

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AIP tender and new partnership make driverless Metro smarter and more reliable.

RailFactor News 16 May 2022 (Denmark) The Copenhagen Metro, Metro Service, and Hitachi Rail have reached an agreement to manage digital assets that will last until 2027. Among the goals of the agreement are optimising maintenance and investments in rolling stock and infrastructure over the next 30 years. Purchasing an asset investment planning (AIP) tool is the next milestone, and the tender process for this has just begun. The Copenhagen Metro has taken a major step in its transition to digital, data-driven decision-making in the asset management area. The Metro's new agreement with operators Metro Service and Hitachi Rail establishes financial and resource obligations for each party for acquiring new IT equipment and personnel resources needed for a common digital asset management system. The system will be used to prioritize maintenance and make decisions about reinvestment and new investments in the future. "A common digital asset management system will provide crucial support to our core offering: a fast, safe Metro that runs around the clock. Nearly 20 years have passed since we opened our first line. Now, we must develop our capabilities in order to make the necessary decisions and investments in our assets going forward, ensuring that the system operates efficiently in the future. At the moment, we're making digital changes in many other areas as well. These will allow us to optimize the planning of new lines and the maintenance of existing lines, improving operational stability, customer satisfaction, capacity, environmental impact, and other factors needed to support a world-class infrastructure for the benefit of all of Copenhagen," explains  Rebekka Nymark, acting CEO of the Copenhagen Metro . New technology predicts service interruptions Until now, data on the state of the rolling stock and IT systems was primarily collected through manual processes. Thanks to new investments in technology, the goal now is to transition from traditional maintenance to "condition-based and predictive maintenance," with collected data stored on a shared platform. This will involve integrating data sources from a variety of IT systems, as well as installing sensors on certain elements of trains, stations, and tracks. These sensors will continuously collect data for the Copenhagen Metro and its operators, making it possible to monitor the status of the trains and infrastructure in real time. By combining this with artificial intelligence, the Copenhagen Metro will be able to determine the financially and technically optimal times to repair or replace key system components. The result will be improved system operations and a reduction in unplanned service interruptions. “Hitachi Rail is proud and excited to collaborate with Metroselskabet and Metro Service to set up a modern and digital asset management as part of an enhanced business model for the 24/7 Operation and Maintenance services on the Copenhagen metro lines. Hitachi Rail will contribute to the DAM project with expertise and technologies in the field of digital and integrated systems, IoT, development of proof of concepts supported by the Hitachi Group’s global digital and technological Lumada solutions. This partnership with the Copenhagen Metro and Metro Service for the digitalization of the maintenance of the metro systems in Copenhagen focuses on improving the passengers service and satisfaction and contributes to the objective of green and sustainable transports in Denmark by 2025,” says  Eric Morand, VP Nordics - Hitachi Rail. "We're pleased to have laid the foundations for our collaboration with the Copenhagen Metro and Hitachi so that we can contribute to the revitalisation of this metro, which is now almost 20 years old. Now, we can concentrate on collecting data and ultimately creating a great flow for ongoing maintenance, improvements, and increased efficiency," says  C laudio Cassarino, CEO of Metro Service . Tender process begun for asset investment planning tool The Copenhagen Metro has just begun the tender process for an asset investment planning (AIP) tool. AIP will support the Metro's ambitions to make data-driven decisions regarding investments and reinvestments. The system will be chosen based on a common set of expectations for its functionality. Purchasing the system is one of the collaboration's major milestones. Spotlight on digitalisation in recruitment For several years now, the Copenhagen Metro has focused on implementing new technological tools in planning, construction and operation. Apart from its digital asset management (DAM), IoT and AIP systems, the Metro also uses building information modelling (BIM), digitalised cable information management (LER, the Danish Register of Underground Cable Owners), and several other systems in its work with contractors, promoting efficient progress. Naturally, this requires continuous training and recruitment of employees with specialised IT and digitalisation skills. "In recent years, the skill sets we look for in employees have been changing. While we will always have a need for skilled engineers, designers, finance managers, planners, and other traditional construction roles, we now find ourselves seeking out people whose skills include data engineering, test management, 3D visualisation, cybersecurity, and information architecture," says Rebekka Nymark. Facts The collaborative agreement between the Copenhagen Metro, Metro Service and Hitachi Rail will last until 2027 The tender process for an asset investment planning (AIP) tool will run until 30 May 2022. In 2021, the Metro achieved 99.3% operating stability. In 2002, the Metro began its first service from Nørreport to Vestamager (M1) and from Nørreport to Lergravsparken (M2). Today, the driverless Metro consists of 39 stations located along 38 km of tracks. The company owns 81 trains. In a typical week, riders take more than two million rides on the Metro, and this number is expected to grow in the coming years. In January 2022, the Metro completed its billionth trip. Source https://www.hitachirail.com/press/#/pressreleases/new-collaboration-and-aip-tender-make-driverless-metro-smarter-and-more-reliable-3182537

May 17 at 05:47 AM

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Bill Gates Sells $940 Million of CN Rail Stock, Trimming Stake to 9%

Yahoo Finance (Bloomberg) May 13, 2022 (Canada) Bill Gates sold about $940 million of Canadian National Railway Co. shares, trimming one of the largest holdings of the investment firm that controls his $117 billion personal fortune. Cascade Investment unloaded roughly 12% of its shares in the Montreal-based company from April 27 to May 12, leaving it with a stake of about 9% or $6.8 billion, according to a Securities and Exchange Commission filing. Cascade has been reducing its ownership of the Canadian railway since at least May 2021, when it still owned roughly 13% of the company. One of Cascade’s investment managers, Justin Howell, has served on Canadian National’s board since last year. Canadian National shares have slid 7.3% this year after rising steadily from pandemic-era lows in March 2020. Kirkland, Washington-based Cascade also owns a $14.1 billion stake in Republic Services Inc., a waste-management company, as well as $9.7 billion of Deere & Co. stock. Cascade’s largest holding is thought to be $26.9 billion worth of shares in Microsoft Corp., the software company Gates founded. Gates stopped reporting his Microsoft shares in 2020 after stepping down from its board. Gates, 66, the world’s fourth-richest person according to the Bloomberg Billionaires Index, recently got into a spat with Elon Musk after he accused Gates of damaging his environmental credibility by shorting Tesla Inc. In an interview with the BBC this month, Gates appeared to acknowledge that he had indeed shorted shares of the electric-vehicle maker, saying that he was merely diversifying his investments. Gates’s former wife, Melinda French Gates, 57, received stock of companies including Canadian National, Deere and AutoNation Inc. from Cascade after the couple announced a divorce last year. She’s since sold a large portion of the railway holding, including $467 million of shares in December. The Bill & Melinda Gates Foundation Trust also sold $180 million worth of Canadian National shares since late April, reducing its stake to less than 2%, according to the filing. Source https://finance.yahoo.com/news/bill-gates-sells-940-million-152306705.html

May 17 at 05:30 AM

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