Ownership of real estate and terminals in a railway industry with open entry

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Operators that wish to compete for passengers and freight consignments on railway market with free entry requires access to terminals and to maintenance facilities at competitive prices. The present paper addresses the appropriate way to provide these complementary services within the framework of a vertically separated railway. Three policy recommendations emerge: To sell terminal facilities, including commercial space, to the operator(s) at each passenger terminal; to sell maintenance workshops and also to sell redundant land on the open market. This policy of asset divestiture should be accompanied by a well-designed institutional framework. One part of this is to construct rules for terminal ownership in a way which facilitates entry and exit in the market for passenger services; another to keep a regulatory eye on the possibility for entrants to get access to land and/or workshops and to compete on the market for maintenance service; and a third for the Infrastructure Manager to be responsible to set aside corridors which may in the future be necessary for infrastructure expansion.

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