RAIL boss Graham Smith has refused to disclose details of his deal with Helioslough or his firm's profit projections to the railfreight inquiry.
Cross-examined by Matthew Reed, he said the contract was commercially confidential and he was not prepared to discuss its terms in public.
When Mr Reed asked: “Is there a walk-away clause?” he replied: “I am not going to discuss individual clauses.”
He said, however, that his firm had calculated its profits on the assumption it would operate all 12 of the daily freight trains envisaged by Helioslough, although it was possible some would be run by other companies.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here