© 2008 Lightweight Community Transport Ltd -
Made by Serif
The economical and ecological way to revive Britain's branch lines
Tram-
Lightweight Community Transport (LCT) held a successful launch on 26th September, announcing a plan to raise £475,000 within a year to bring lightweight rail to underused branch lines around the UK. The launch included a demonstration of a Parry People Movers lightweight railcar at Stourbridge Junction station. Within days of the launch the first investments had been pledged or received, totalling £10,000.
LCT believes that there is considerable potential for using lightweight rail in other locations. “There are numerous examples in the UK of branch lines that could link significant populations to the mainline network where cost is preventing the reintroduction of services”, said Alex Lawrie, LCT's chief executive, “We have the solution – and we can work with community based rail operators, being a social enterprise ourselves.”
Artists impression of a PPM60 railcar in LCT livery
Howard Johnston, the chairman of LCT, added “Hybrid drive railcars are a huge improvement – much cheaper to run than heavy rail, and much cheaper to install than trams with overhead lines. We have already found considerable interest in this development from independent railways, community groups and open access rail operators.”
Advantages
The development of light rail vehicles that do not require overhead lines and use hybrid drives to conserve energy has lowered the cost threshold for constructing and
running local light rail services. Branch lines unused by conventional rail exist that provide ideal routes for this.
LCT will provide a leasing arrangement that will cut the capital requirements for
starting a new branch line service from around £650,000 to around £50,000. As well
as leasing the rolling stock, they will lease purpose-
Of all forms of public transport, light rail with regenerative braking has the lowest climate change impact per passenger mile. Light rail is also the form of public transport most effective in reducing car journeys.Other benefits include better connections to the national rail network, the relief of traffic congestion and the regeneration of smaller town centres.
Investment
The launch attracted a number of prospective investors, some of whom invested on the spot. As an industrial and provident society, LCT can advertise its offer of withdrawable shares to the public, but cannot accept more than £20,000 from any individual. Applications for investment can be accepted at any time, at the discretion of the board.
The funds will be used for the purchase of rolling stock and support for the development of the light rail projects where it will be deployed. LCT expects to make modest payments of interest on shares issued at first, rising to over 5%; however, it stresses that the focus is on social returns.