Canada: CN is to invest C$64m on its lines in British Columbia this year, including C$36·4m on track renewal, C$2m on signalling and C$2m on links to Vancouver’s Deltaport intermodal terminal. A six-year C$11m programme to upgrade the Terrace - Kitimat branch will finish this year.

Ethiopia: The government has negotiated a loan of FFr56m from the French government to fund railway restructuring, rehabilitation and the supply of new diesel locos and spare parts.

Philippines: President Ramos approved the release of 200m pesos on August 26, to complete rehabilitation of PNR infrastructure between Naga and Legaspi.

Romania: Transport Minister Traian Basescu has announced that ABN Amro Bank is to grant loans worth US$450m to fund extensions to the Bucuresti metro, including Drumul Taberii - Piate Universitati and Drumul Taberii - Pantelimon.

USA: CSX and Norfolk Southern have funded the acquisition of Delaware Otsego Corp at US$22 per share by a new company formed by its President & CEO Walter G Rich. Delaware Otsego owns the 835 km New York, Susquehanna & Western Railway, providing independent access to the port of New York.

Shares in MotivePower Industries began trading on the New York Stock Exchange on August 18, having moved from the Nasdaq National Market System.