In 2001, there was an interesting rumour floating about that the 1502s were being regauged for standard gauge traffic using ex-49 class bogies. It turns out this rumour was actually quite true.
The 423 class are being built from surplus 1502 class locomotives at Redbank Workshops. Modifications include the fitting of a Maxi-Cab, Airconditioning, Dual Control Stands, Visibility lights, and a lowered nose. It seems that no modifications are being made to the power plan though (ie. turbos aren’t being fitted, nor is the generators being replaced by alternators)
The class will be painted in the current NRR Livery and will wear the Interail logo.
So far the count is at 6 members of the class, 42301 – 42304 in Interail livery and 42305 & 42306 in QRNational Livery