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80-465: KiwiRail Holdings Limited is a New Zealand state-owned enterprise (SOE) responsible for rail operations in New Zealand and operates inter-island ferries. Trading as KiwiRail and headquartered at 604 Great South Road, Ellerslie , KiwiRail is the largest rail transport operator in New Zealand . KiwiRail has business units of KiwiRail Freight, Great Journeys New Zealand and Interislander . The company

160-556: A pā , or fortified settlement, called Omoua . Tukiauau built a pā called Whakaraupuka on the west side of Lake Waihola and his rival, Tuwiriroa , came down from Lake Wakatipu and built one at Taieri Mouth on the coast. Māori soon abandoned Whakaraupuka, but the Taiari settlement at Henley endured into modern times. (Anderson, 1998.) In February 1770 Captain James Cook described the saddle-shaped hill which became known as Saddle Hill,

240-623: A $ 40 million allocation to KiwiRail from the PGF. In 2019, the government began a "Future of Rail" review, and in December 2019 released a draft New Zealand Rail Plan, outlining changes it proposed making to the rail transport industry and KiwiRail specifically. The draft plan proposes a number of major changes, the most significant being future funding of the rail network through the National Land Transport Fund, and charging rail operators to use

320-696: A greater distance, had inspired Charles Kettle in the 1840s. In 1953 the young Ralph Hotere , later to become one of New Zealand's best-regarded artists, qualified as a pilot on Tiger Moths at the Taieri Aerodrome Training School, Mosgiel. Mosgiel's sign forms an unusual feature. Modelled on the famous Hollywood Sign , the seven letters of the Mosgiel sign perch on a hillside close to State Highway 1. Because of this sign locals sometimes (though not very often) jokingly refer to Mosgiel as " Mollywood ". The distinctive outline of Saddle Hill forms

400-618: A joint venture with the Northland Regional Council to build a branch line (the Marsden Point Branch ) to connect to Northport at Marsden Point. Anchor freight customers: Key anchor customers include Fonterra, Westland Dairy Products (Rolleston and Hokitika), Bathurst resources and the various freight forwarders including Mainfreight and port companies including Port of Tauranga. Freight wagons: KiwiRail operates 4,855 wagons . An additional 120 wagons were acquired in

480-558: A long-extinct volcano, the crater being the Otago Harbour . To the south of the town lies one of the many peaks that formed part of the volcano: Saddle Hill, a prominent landmark, visible from a considerable distance and notable for its distinctive shape, lies south of State Highway One where Kinmont Park, a new housing subdivision is located at the foot of the hill. The Dunedin Southern Motorway , upgraded in 2003, links Mosgiel with

560-661: A public objective. For that reason, SOEs primarily operate in the domain of infrastructure (e.g., railway companies), strategic goods and services (e.g., postal services, arms manufacturing and procurement), natural resources and energy (e.g., nuclear facilities, alternative energy delivery), politically sensitive business, broadcasting, banking, demerit goods (e.g., alcoholic beverages ), and merit goods (healthcare). SOEs can also help foster industries that are "considered economically desirable and that would otherwise not be developed through private investments". When nascent or 'infant' industries have difficulty getting investments from

640-489: A regular enterprise, state-owned enterprises are typically expected to be less efficient due to political interference, but unlike profit-driven enterprises they are more likely to focus on government objectives. In Eastern Europe and Western Europe , there was a massive nationalization throughout the 20th century, especially after World War II . In the Eastern Bloc , countries adopted very similar policies and models to

720-1330: A total of 17 rail freight depots. In the North Island, these are Whangārei , Auckland, Hamilton , Tauranga, New Plymouth, Napier, Whanganui , Palmerston North , Masterton and Wellington . In the South Island they are Blenheim, Christchurch, Ashburton, Timaru, Oamaru, Dunedin, and Invercargill. Inland Ports : KiwiRail serves a number of Inland Port yards, although does not own the tracks. These include Conlinxx (Wiri), Midland Port (Rolleston), Longburn International Freight Hub (Longburn, Palmerston North), Manawatu Inland Port (Palmerston North), MetroPort (Southdown in Auckland and Rolleston in Christchurch) and will include Ruakura (Hamilton) when it opens in 2019, and Ports of Auckland's site at Horotiu in Hamilton. Sea Ports : KiwiRail has major freight yards and sidings at Lyttelton port Company ( containers , logs , coal ), Port Chalmers (containers), Southport (Bluff), Timaru, Port of Tauranga (Mt Maunganui and Sulphur Point), Ports of Auckland, CentrePort (Wellington) , Port of Napier and New Plymouth. KiwiRail also has

800-452: Is a major land owner in New Zealand, and manages over 18 thousand hectares of land, has in excess of 1,500 property assets with a combined value of over $ 965 million (Annual Report 2016). Increasingly, KiwiRail is pursuing a commercial approach to asset management, and in the 2016 financial year received over $ 18 million from property sales. Re-branded along with Interislander as the single brand The Great Journeys of New Zealand in 2017, it

880-562: Is a viable argument for SOEs is debated. SOEs are also frequently employed in areas where the government wants to levy user fees , but finds it politically difficult to introduce new taxation. Next, SOEs can be used to improve efficiency of public service delivery or as a step towards (partial) privatization or hybridization. SOEs can also be a means to alleviate fiscal stress, as SOEs may not count towards states' budgets. Compared to government bureaucracy, state owned enterprises might be beneficial because they reduce politicians' influence over

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960-597: Is an urban satellite of Dunedin in Otago , New Zealand , fifteen kilometres west of the city's centre. Since the re-organisation of New Zealand local government in 1989 it has been inside the Dunedin City Council area. Mosgiel has a population of approximately 15,150 as of June 2024. A nickname for Mosgiel is "The pearl of the plain". Its low-lying nature does pose problems, making it prone to flooding after heavy rains. Mosgiel takes its name from Mossgiel Farm, Ayrshire ,

1040-753: Is approximately 70% of total employment. State-owned enterprises are thus a major factor behind Belarus's high employment rate and a source of stable employment. In most OPEC countries, the governments own the oil companies operating on their soil. A notable example is the Saudi Arabian national oil company , Saudi Aramco , which the Saudi government bought in 1988, changing its name from Arabian American Oil Company to Saudi Arabian Oil Company. The Saudi government also owns and operates Saudi Arabian Airlines , and owns 70% of SABIC as well as many other companies. China's state-owned enterprises are owned and managed by

1120-400: Is currently, as of January 2022, unclear what direction KiwiRail intends to take, Project Restart suggests a shift to multi-day land-cruises, a form of Experiential tourism . This decision, or potential decision, has been seen by many New Zealand-based transport advocacy groups as an abandonment of interregional rail by KiwiRail. Campaign for Better Transport described it as the "latest stage in

1200-548: Is highlighted in the predominant local terminology, with SOEs in Canada referred to as a " Crown corporation ", and in New Zealand as a " Crown entity ". The term " government-linked company " (GLC) is sometimes used, for example in Malaysia , to refer to private or public (listed on a stock exchange) corporate entities in which the government acquires a stake using a holding company . The two main definitions of GLCs are dependent on

1280-527: Is now experiencing rapid double-digit annual growth, due to the growth of Chinese tourism to New Zealand, so much so that KiwiRail in 2017 may purchase an additional eight carriages to the 17 AK carriages purchased in 2012. In 2021, following a decline in tourism during the COVID-19 pandemic, KiwiRail announced the suspension of the Coastal Pacific and Northern Explorer as part of Project Restart '22. While it

1360-517: Is responsible for consists of: The Engineering division provides mechanical assistance to the Freight and Passenger businesses, as well as to Auckland Transport. Engineering maintains, refurbishes and occasionally builds rolling stock for the network. In 2012, KiwiRail announced it was putting its Hillside Engineering division on the market. and subsequently sold part of the division and transferred remaining work to Hutt workshops. KiwiRail now operates

1440-500: Is the company's largest business unit, making up the majority of KiwiRail's revenue with $ 390 million in the financial year ended July 2016. In the same year, KiwiRail moved around 18 million tonnes of freight and carried about 16% of New Zealand's total freight task (tonnes-km). Traffic grew from 2017 to 2019, dropped sharply during the COVID-19 pandemic and largely recovered in 2022. Freight types: Timber and dairy products formed 60% of

1520-538: Is the long-distance passenger transport subsidiary of KiwiRail, operating the Northern Explorer , TranzAlpine and Coastal Pacific . The passenger trains are predominantly patronised by tourists to NZ, with the exception of the Capital Connection, which is a commuter train. In 2012, KiwiRail attempted to sell Tranz Scenic , but was unsuccessful, and KiwiRail continues to run these services. The division

1600-557: The 2017 budget the government announced a further $ 450 million in capital funding for KiwiRail, and that the company's operations would be placed under another major review, believed to relate to future funding models. The $ 450 million was earmarked for repairs following the 2016 Kaikōura earthquake and for further locomotive and rolling stock purchases. As part of the Turnaround Plan's agenda to standardise locomotives and wagons, in 2016 KiwiRail announced it would effectively switch off

1680-538: The Hutt Workshops in the Hutt Valley of Wellington , along with a number of small wagon maintenance depots, for example, at Addington (Christchurch) and Frankton. Most rail operations are a 'there and back' service with motive power being held in a few key strategic locations. Motive power stabling yards are as follows: Some of the more prominent rail facilities used by KiwiRail include: The table below lists only

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1760-505: The Polynesian homeland Hawaiki to get kūmara . On its return the canoe suffered shipwreck at Shag Point in North Otago , but its survivors quested about the land in search of supplies. If they failed to get back before dawn they turned into natural landscape-features, and this fate befell Aonui. These ancient traditions suggest that some of the earliest Polynesian settlers in the south knew

1840-703: The State-owned Asset Supervision and Administration Commission (SASAC) . China's state-owned enterprises generally own and operate public services, resource extraction or defense. As of 2017 , China has more SOEs than any other country, and the most SOEs among large national companies. China's SOEs perform functions such as: contributing to central and local governments revenues through dividends and taxes, supporting urban employment, keeping key input prices low, channeling capital towards targeted industries and technologies, supporting sub-national redistribution to poorer interior and western provinces, and aiding

1920-685: The Wairarapa Connection service. Suburban rail passenger operations in Auckland and Wellington are contracted by their respective local governments and not operated by KiwiRail. In Auckland rolling stock is owned by Auckland Transport which has contracted operation to Auckland One Rail , while in Wellington rolling stock is owned by Greater Wellington Regional Council which has contracted operation to Transdev Wellington. The KiwiRail Infrastructure and Engineering division, formerly known as ONTRACK, has three main areas of operation: The network it

2000-778: The 2023 census, Mosgiel had a smaller boundary, covering 16.96 km (6.55 sq mi). Using that boundary, Mosgiel had a population of 13,635 at the 2018 New Zealand census , an increase of 1,377 people (11.2%) since the 2013 census , and an increase of 1,986 people (17.0%) since the 2006 census . There were 5,805 households, comprising 6,348 males and 7,290 females, giving a sex ratio of 0.87 males per female, with 2,229 people (16.3%) aged under 15 years, 1,836 (13.5%) aged 15 to 29, 5,568 (40.8%) aged 30 to 64, and 3,999 (29.3%) aged 65 or older. Ethnicities were 93.9% European/ Pākehā , 6.8% Māori , 1.4% Pasifika , 2.6% Asian , and 2.0% other ethnicities. People may identify with more than one ethnicity. The percentage of people born overseas

2080-688: The Governments energy and emissions policies, and while the government is also actively considering extending the North Island electrification for the first time since the 1980s. KiwiRail has made use of the Government's Provincial Growth Fund (PGF). In 2019 KiwiRail signed an agreement with the New Zealand Transport Agency , Palmerston North City Council to construct a road, rail and air distribution centre in Palmerston North , following

2160-780: The Minister of Finance II, the Minister in the Prime Minister's Department in charge of the Economic Planning Unit, the Chief Secretary to the Government, Secretary General of Treasury and the heads of each of the GLICs (the Employees Provident Fund, Khazanah Nasional Berhad , Lembaga Tabung Angkatan Tentera (the armed forces pension fund), Lembaga Tabung Haji and Permodalan Nasional Berhad . Khazanah Nasional Berhad provided

2240-633: The Māori track from Kaikorai Valley and settled on Saddle Hill in a whare (a Māori-style house) in 1849, establishing the first European farmstead in the district. In the same year the Reverend Thomas Burns , spiritual leader of the Association's settlement, selected the land which would become Mosgiel. In the mid-1850s Arthur John Burns , a son of Thomas Burns , settled on some of the land. A large stand of native bush stood nearby. The richness of

2320-539: The NIMT electrification in late 2017 and replace the electric locomotives with an additional eight DL locomotives (additional to the 15 as reported in the 2016 Annual Report). On 30 October 2018 that capital funding was made available to by the new Labour-led Coalition government to refurbish 15 of the surviving 20 EF locomotives at the Hutt Workshops extending the service life by 10 years for their continued use, in line with

2400-605: The New Zealand Railways Corporation (trading as ONTRACK). As part of this acquisition, Toll agreed to pay ONTRACK "Track Access Charges" (TACs) in exchange for exclusive network access for 66 years, subject to a "use it or lose it clause": if freight and passenger volumes fell below their 2002-2004 average for three or more years, Toll would lose its exclusive access. The agreement set a base track access fee but left future track access fees open to negotiation between ONTRACK and Toll. After several years of negotiations,

2480-605: The Palmerston North-Wellington Capital Connection and the SR class carriages, which KiwiRail owns and leases for the Te Huia Hamilton to Auckland regional service. Twelve carriages are also being overhauled to replace the current S class carriages and will be deployed in two sets of six. State-owned enterprise The terminology around the term state-owned enterprise is murky. All three words in

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2560-578: The Taieri Plain. W.R. Kirk repeated the later story of a taniwha (water-monster), the "familiar spirit or guardian of Te Rakitaounere (also given as Te Rakitauneke) a famous chief and warrior" who lost his master about the Dunedin hills, slithered down the Silverstream, 'Whaka-ehu', and 'lay down and left a hollow Te Konika o te Matamata' on the site of Mosgiel. The taniwha (named Matamata ) wriggled down

2640-463: The Taieri, making its tortuous course, and when he died became the seaboard hills, including Saddle Hill. This story has associations with Kāti Māmoe , ('Ngāti Mamoe' in modern standard Māori) of the late 17th or early 18th century. According to tradition this period also saw the occupation of the kaik (unfortified settlement) near modern Henley – called Tai-ari like the river – and on the hill above it

2720-1003: The USSR. Governments in Western Europe, both left and right of centre, saw state intervention as necessary to rebuild economies shattered by war. Government control over natural monopolies like industry was the norm. Typical sectors included telephones , electric power , fossil fuels , iron ore , railways , airlines , media , postal services , banks , and water . Many large industrial corporations were also nationalized or created as government corporations, including, among many others: British Steel Corporation , Equinor , and Águas de Portugal . A state-run enterprise may operate differently from an ordinary limited liability corporation. For example, in Finland, state-run enterprises ( liikelaitos ) are governed by separate laws. Even though responsible for their own finances, they cannot be declared bankrupt ;

2800-505: The centre of Dunedin. State Highway 87 to Kyeburn starts at a junction with State Highway 1 at the southeastern edge of Mosgiel, the first part of the highway being the main street of Mosgiel, Gordon Road. The site of Mosgiel figures in Māori legend, but surrounding features of the Taieri Plain and adjacent hills have older mythical associations. Of the canoes of South Island migratory legend

2880-478: The contract to supply 57 new locomotives for KiwiRail. Stadler Rail stated the contract was worth 228 million Euros, or NZD $ 403 million. The 2022 budget allocated $ 661.5 million to KiwiRail, with $ 312.3 million for improving the national rail network and $ 349.2 million for completing the replacement of "ageing" locomotives and freight wagons, including up to 29 new light-duty locomotives. The total government investment increases to $ 8.6 billion. KiwiRail Freight

2960-470: The current locomotives in service with KiwiRail. The majority of passenger carriages in New Zealand are now owned by Auckland Transport , Greater Wellington Regional Council and Dunedin Railways . KiwiRail operates a small fleet of New Zealand built AK class carriages for long-distance passenger trains and heavily rebuilt former British Mark 2 carriages in several configurations, the S class carriages for

3040-403: The decline of what was once an extensive passenger rail service which serviced most of New Zealand". An announcement is expected by July 2022. Until 2016, KiwiRail division Tranz Metro had the contract to operate the Wellington services but lost a bid to renew this contract in 2015. KiwiRail is sub-contracted by Transdev Wellington to provide and operate the diesel locomotives required to haul

3120-436: The eastern border of the greater Mosgiel area. In recent years Mosgiel has experienced increased urbanisation and a growth in population. The revival has come about in part due to people moving from Dunedin's inner suburbs. Mosgiel has recently seen the opening or refurbishment of cafés and bars aimed at a younger market, and workers have built stages one and two of a planned larger playground. In 2010 Mosgiel became home to

3200-486: The end of the 20th century when it closed. In 1936, while still a schoolboy, the artist Colin McCahon took part in a family outing, driving from the seaboard over the coastal hills. Looking across the Taieri Plain towards Central Otago he had what he described as a "vision", seeing a pre-Biblical "landscape of splendour order and peace" – which, he said, it became his life's work to communicate. The same view, though seen from

3280-717: The establishment of the Taieri Aerodrome , just north of Mosgiel, in the late 1920s and the development of Momona Airport, now Dunedin International Airport , further south on the plain in 1962. After the Second World War, some expected Mosgiel might industrialise extensively, like the Hutt Valley , but expansion remained limited. The bankruptcy of the woollen mill in 1980 and its eventual closure have not been offset by other industrial developments. The late 20th century's increasingly ageing New Zealand population saw

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3360-457: The expansion of housing for the elderly, with several retirement villages and communities located in the vicinity. In recent decades the hills above the plain have seen some division into lifestyle blocks . The 2003 completion of the Fairfield bypass shortened commuting-time via the southern motorway (part of State Highway 1 ) to the city centre. Mosgiel's economy until recent years, focused on

3440-469: The farm of the poet Robert Burns , the uncle of the co-founder in 1848 of the Otago settlement, the Reverend Thomas Burns . Mosgiel stands at the north-eastern extremity of the Taieri Plain . The Silver Stream , a tributary of the Taieri River , runs through its north end. Between Mosgiel and the centre of Dunedin stand the rugged Three Mile Hill and Scroggs Hill, which form part of the crater-wall of

3520-441: The first Warehouse Local store, and a McDonald's restaurant was planned to go next to New World, however due to strict restrictions that would be imposed on the restaurant the idea has been scrapped. Taieri College is the only state secondary school in Mosgiel. It caters for years 7 to 13 and has a roll of 1237. The school was formed in 2004 as a merge between The Taieri High School and Mosgiel Intermediate. The Taieri High School

3600-562: The first chair of the KiwiRail board, a position he held until 1 July 2010. Bolger's government had privatised New Zealand Rail Limited in 1993. A number of commentators, including Winston Peters , view this as ironic. In response, Bolger acknowledged his involvement in privatising New Zealand Rail, remarking that "my life is full of ironies," and added that "the world has changed." In 2011, KiwiRail proposed splitting its land and rail corridor assets from its rail operation assets. On 27 June 2012 it

3680-660: The following points: Two of KiwiRail's major customers, Mainfreight and Fonterra , invested heavily in rail-related infrastructure in line with the Turnaround Plan. Mainfreight has allocated $ 60 million for investment in new railhead depots, while Fonterra has invested $ 130 million in a new rail hub complex in Hamilton and another in Mosgiel . The plan has had mixed success, with company Chairman John Spencer stating in 2013 that for its first three years, rail freight revenue had increased by over 25%. Similar progress in attaining new customers and increasing freight volumes has been made over

3760-500: The form of Public Sector Undertakings (PSUs). The Malaysian government launched a GLC Transformation Programme for its linked companies and linked investment companies ("GLICs") on 29 July 2005, aiming over a ten-year period to transform these businesses "into high-performing entities". The Putrajaya Committee on GLC High Performance ("PCG"), which oversaw this programme, was chaired by the Prime Minister , and membership included

3840-529: The fourth and fifth, Tākitimu and Āraiteuru , are mentioned in connection with the area. Maungatua , the large hill to the west of the plain, represents a huge wave which struck the Takitimu, throwing overboard Aonui, who became a pillar on the Tokomairaro Beach. Another account makes Aonui a female survivor of the wreck of the Ārai Te Uru, built by Kahui Tipua, who had arrived earlier but sent this vessel to

3920-469: The land and the proximity of the main south road, more or less following the route of an old Māori track, led to early close rural settlement. The 1861 Otago gold rush saw the development of a road – leading west to the interior – which intersected the site. Arthur John Burns 's establishment of the Mosgiel Woollen Company and mill in 1871 brought the settlement of workers in cottages. 1875 saw

4000-422: The land beneath the rail network) in 1990, privatised in 1993 and then renamed in 1995 to Tranz Rail . In 2004 Tranz Rail's rail, ferry and trucking operations were acquired by Toll Holdings and renamed Toll NZ , with the central government buying back the rail network outside of Auckland for $ 1 (the Auckland metro rail network had already been purchased by the government in 2001). The rail network then came under

4080-418: The landmark east of Mosgiel. The Weller brothers of the Otago whaling station on Otago Harbour (modern Otakou ) sent a Mr. Dalziel to inspect the Taieri Plain for a proposed Scottish settlement in 1839, but he gave an unfavourable report. In 1844 Edward Shortland noticed Māori running pigs on the landward slopes of Saddle Hill or Makamaka (as he recorded the hill's Māori name). Charles Kettle surveyed

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4160-421: The largest employer was Fisher & Paykel which manufactured DishDrawer dishwasher and ranges at their Mosgiel factory. The closure of this plant was announced in early 2008. Mosgiel is described by Statistics New Zealand as a medium urban area, and covers 17.28 km (6.67 sq mi) and had an estimated population of 15,150 as of June 2024, with a population density of 877 people per km . Before

4240-412: The leading application of the incomplete contract theory to the issue of state-owned enterprises. These authors compare a situation in which the government is in control of a firm to a situation in which a private manager is in control. The manager can invest to come up with cost-reducing and quality-enhancing innovations. The government and the manager bargain over the implementation of the innovations. If

4320-467: The life of the Plan to date (other than with coal). Steady and at times rapid progress has been made on the enabling parts of the Turnaround Plan, such as new locomotives and wagons, lengthening of the rail ferry and track destressing, but not always effectively. The 10 Year Turnaround Plan was quickly undermined by a series of adverse events, including: Partially as a response to the events outlined above, in

4400-412: The manufacture of wool-products and many elderly New Zealanders still associate the word "Mosgiel" with the former Mosgiel Woollen Mills. Today , Mosgiel's income comes from many sources, including local shops, cafés and bars. It remains an important service-centre for the surrounding farming community. It also hosts one of New Zealand's largest agricultural research institutes, Invermay . Until recently

4480-592: The negotiations fail, the owner can decide about the implementation. It turns out that when cost-reducing innovations do not harm quality significantly, then private firms are to be preferred. Yet, when cost-reductions may strongly reduce quality, state-owned enterprises are superior. Hoppe and Schmitz (2010) have extended this theory in order to allow for a richer set of governance structures, including different forms of public-private partnerships . SOEs are common with natural monopolies , because they allow capturing economies of scale while they can simultaneously achieve

4560-611: The network. Prior to the establishment of KiwiRail, rail transport in New Zealand has been under both public and private ownership. Government operators included the Public Works Department (1873–1880), New Zealand Railways Department (1880–1982), and the New Zealand Railways Corporation (1982–1990). New Zealand Rail Limited was split off from the Railways Corporation (which continued to own

4640-554: The north-south road paralleled by a railway , with a branch to the west constructed in 1877. The authorities declared the Mosgiel Town District in 1882 and constituted a Borough Council in 1885. The town grew and became the most substantial in the district. The surrounding plain became a sort of Home County to Dunedin, a place of prosperous farms and of the large houses of successful businessmen with rural tastes. Horse-breeding and racing flourished. From 1900 to 1997, Mosgiel

4720-521: The plain and coastal hills for the Otago Association in 1846 and 1847. He also climbed the westward hills and saw the raised land beyond, the nearest approach of the Central Otago plateau to the sea, which he correctly identified as potentially fine pastoral country. Following the arrival of the Association's settlers at Dunedin in 1848, a Scots shepherd, Jaffray, brought his wife and dogs along

4800-399: The private sector (perhaps because the good that is being produced requires very risky investments, when patenting is difficult, or when spillover effects exist), the government can help these industries get on the market with positive economic effects. However, the government cannot necessarily predict which industries would qualify as such 'infant industries', and so the extent to which this

4880-428: The proportion of the corporate entity a government owns. One definition purports that a company is classified as a GLC if a government owns an effective controlling interest (more than 50%), while the second definition suggests that any corporate entity that has a government as a shareholder is a GLC. The act of turning a part of government bureaucracy into a SOE is called corporatization . In economic theory ,

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4960-451: The question of whether a firm should be owned by the state or by the private sector is studied in the theory of incomplete contracts developed by Oliver Hart and his co-authors. In a world in which complete contracts were feasible, ownership would not matter because the same incentive structure that prevails under one ownership structure could be replicated under the other ownership structure. Hart, Shleifer, and Vishny (1997) have developed

5040-479: The rail network via Track Access Charges. A number of other projects are proposed under the draft plan. They include a new train control centre in Auckland, replacing two Interislander ferries and rolling stock. On 17 March 2020 KiwiRail released a tender for the supply of new mainline locomotives. 2021 New Zealand budget allocated NZD $ 722.7 million to purchase new mainline locomotives, shunt locomotives and wagons. In October 2021, Stadler Rail announced it had won

5120-536: The secretariat to the PCG and managed the implementation of the programme, which was completed in 2015. As of 2024, Philippines Amusement and Gaming Corporation (PAGCOR) is the most profitable state-owned enterprise in the Philippines. It is the third largest contributor to government revenues, following taxes and customs. Mosgiel Mosgiel / ˈ m ɒ z ɡ iː l / ( Māori : Te Konika o te Matamata )

5200-469: The service. Conversely, they might be detrimental because they reduce oversight and increase transaction costs (such as monitoring costs, i.e., it is more difficult and costly to govern and regulate an autonomous SOE than it is the public bureaucracy). Evidence suggests that existing SOEs are typically more efficient than government bureaucracy, but that this benefit diminishes as services get more technical and have less overt public objectives. Compared to

5280-605: The single brand The Great Journeys of New Zealand in 2017, The Interislander is the company's second largest business unit. It operates ferry services across Cook Strait between Wellington in the North Island and Picton in the South Island . In the financial year 2012, $ 123.9M of KiwiRail's revenue came from the Interislander, with the majority of the Interislander's revenue coming from rail and road freight transport. KiwiRail

5360-465: The state answers for the liabilities. Stocks of the corporation are not sold and loans have to be government-approved, as they are government liabilities. State-owned enterprises are a major component of the economy of Belarus . The Belarusian state-owned economy includes enterprises that are fully state-owned, as well as others which are joint-stock companies with partial ownership by the state. Employment in state-owned or state-controlled enterprises

5440-493: The state's response to natural disasters, financial crises and social instability. China's SOEs are at the forefront of global seaport-building, and most new ports constructed by them are done within the auspices of the Belt and Road Initiative . As of at least 2024, an Ethiopian SOE is Africa's largest and most profitable airline, as well as Ethiopia's largest earner of foreign exchange. In India , government enterprises exist in

5520-657: The term "enterprise" is challenged, as it implies statutes in private law which may not always be present, and so the term "corporations" is frequently used instead. Thus, SOEs are known under many other terms: state-owned company, state-owned entity, state enterprise, publicly owned corporation, government business enterprise, government-owned company, government controlled company, government controlled enterprise, government-owned corporation, government-sponsored enterprise , commercial government agency, state-privatised industry public sector undertaking, or parastatal, among others. In some Commonwealth realms , ownership by The Crown

5600-607: The term are challenged and subject to interpretation. First, it is debatable what the term "state" implies (e.g., it is unclear whether municipally owned corporations and enterprises held by regional public bodies are considered state-owned). Next, it is contestable under what circumstances a SOE qualifies as "owned" by a state (SOEs can be fully owned or partially owned; it is difficult to determine categorically what level of state ownership would qualify an entity to be considered as state-owned since governments can also own regular stock , without implying any special interference). Finally,

5680-408: The tonnage moved in 2022. Bulk commodities include coal, logs, milk ( dry and wet ), IMEX (import/export intermodal) and domestic intermodal freight . Formerly large scale freight types such as petroleum products have entirely been withdrawn, and fertilizer has almost disappeared. The freight trading revenue by sector, as per the December 2016 Half Year Report is: Rail freight depots : KiwiRail has

5760-672: The two parties could not come to an agreement on the amount that Toll should pay. On 1 July 2008, the government announced the purchase for $ 690 million of Toll Rail, the rail and ferry assets of Toll NZ, but not its trucking operation, which continued under the Toll brand. The new company was named KiwiRail and launched on 1 October 2008 at a ceremony at Wellington railway station. The New Zealand Railways Corporation then owned both KiwiRail and ONTRACK, with both companies merging to create one company that controls both rail and ferry operations and rail infrastructure. Former Prime Minister Jim Bolger became

5840-525: The year ending 2016, with over 1,000 new wagons added since 2008. One of KiwiRail's stated aims is to progressively move towards standardized wagons, with the container flat-top being overwhelmingly the dominant type (carrying curtain sided swap bodies , liquid containers , Log cradles and so on to meet almost all freight tasks). The Norwegian coupling is progressively being replaced with semi-automatic Janney coupler on all wagons. Key freight routes: Re-branded along with KiwiRail Scenic Journeys as

5920-415: The years following. In support of the turn-around plan, from July 2008 to December 2016 KiwiRail received over $ 2.1 billion of Crown investment, which was mostly spent on infrastructure and new rolling stock. The focus of the Plan is to increase rail traffic volumes, revenue and productivity, modernise assets and separate out the commercial elements of the business from the non-commercial. The plan included

6000-567: Was 11.7, compared with 27.1% nationally. Although some people chose not to answer the census's question about religious affiliation, 50.1% had no religion, 40.7% were Christian , 0.1% had Māori religious beliefs , 0.4% were Hindu , 0.6% were Muslim , 0.2% were Buddhist and 1.1% had other religions. Of those at least 15 years old, 1,566 (13.7%) people had a bachelor's or higher degree, and 3,123 (27.4%) people had no formal qualifications. 1,545 people (13.5%) earned over $ 70,000 compared to 17.2% nationally. The employment status of those at least 15

6080-428: Was announced by the company that the value of the land and rail operations would be written down from NZ$ 7.8 billion to $ 1.3 billion, and KiwiRail would continue as the rail and ferry operator, while the New Zealand Railways Corporation would manage KiwiRail's land. The de-merger took effect on 31 December 2012. In 2010 KiwiRail released a 10-year turnaround plan and significant government investment in support of this in

6160-399: Was called Mosgiel District High School until 1956, and has origins from 1864. East Taieri School, Elmgrove School and Silverstream School are state contributing primary schools catering for years 1 to 6. They have rolls of 317, 291 and 313 students, respectively. East Taieri School was founded as a preaching station in 1853 and moved to its current location in 1863. St Mary's School is

6240-486: Was formed in 2008 when the government renationalised above-rail operations (having previously renationalised the network in 2004) and inter-island ferry operations, then owned by Toll Holdings. In 2021, the government launched the New Zealand Rail Plan, with funding for rail projects to come from the National Land Transport Fund (NLTF), and with KiwiRail remaining an SOE but paying Track Access Charges (TACs) to use

6320-483: Was that 4,764 (41.8%) people were employed full-time, 1,617 (14.2%) were part-time, and 252 (2.2%) were unemployed. R.A. Lawson 's East Taieri Presbyterian Church (1870) stands near the Mosgiel turnoff to State Highway 1. The Mosgiel Woollen Mill built in 1871 in Factory Road, was the second woollen mill to open in New Zealand. The mill was integral to the town and a significant employer from when it opened until

6400-432: Was the site of Holy Cross College , the national Roman Catholic seminary for the training of priests. The seminary was located on extensive grounds which included a farm. The seminary was moved to Auckland in 1997 but many of its buildings remain and are used for Catholic as well as other purposes. The significance of the area for transport grew in the 20th century when the proximity of the plain's flat land to Dunedin saw

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