TNT Ltd has revived its high-speed rail ambitions by assuming a key role in a new consortium that is pursuing a $1 billion scheme to develop a 250km/h tilt train service between Sydney and Canberra.

Almost six years after the collapse of the $12 billion Very Fast Train project, the group emerged yesterday as the potential operator of a European-style rail operation capable of bridging the corridor to the national capital in less than two hours.