Prescott man lands Railtrack role

ADRIAN MONTAGUE, the Government's one-time PFI troubleshooter and former special transport adviser to John Prescott, is set to play a key role in a bid to take over Railtrack.

The Strategic Rail Authority is to finance and run the company planned by Transport Secretary Stephen Byers to take control of the rail network operator. Byers put Railtrack into administration in October. The SRA, responsible for investment in the railways, said it would be in charge of 'the approval of the business plan and associated financing arrangements for the bid'.

It will pay the fees and expenses of Ian McAllister, the boss of Ford UK who Byers has brought in to mastermind the bid, and Montague, who will be deputy chairman.

Montague headed the Treasury task force on the private finance initiative and became chairman of the Partnerships UK body. Earlier this year, his duties were extended to advise Prescott and the then Transport Secretary Lord Macdonald on the railways and part-privatisation of the Tube.

Montague also worked for the former Kleinwort Benson, where he helped refinance Eurotunnel's debt, and for lawyers Linklaters, now brought in to advise the SRA/McAllister vehicle.