Deutsche Bahn, the German rail giant that last month pulled an initial public offering valuing the group at around €20 billion (£17 billion), has opened talks with potential investors from Saudi Arabia, Russia and Asia over raising fresh cash for expansion. The state-owned company, which owns Chiltern Railways and freight operator EWS in the UK, has won permission from German Chancellor Angela Merkel to explore bringing in one or more strategic investors. The move follows DB's decision to postpone its float due to the crisis in the financial markets. The IPO would have seen DB raise about €5 billion by listing 24.9 percent of a new company, DB Mobility Logistics, spanning the group's passenger, freight and logistics activities. The rail network would have remained in state hands. A third of any money raised was earmarked for DB's expansion, including plans to capitalize on 2010's liberalization of the EU passenger market, develop new services to Eastern Europe and bid for more UK franchises - possibly the West Coast Main Line. Alexander Hedderich, DB's chief strategist, said: “It is possible that because of the crisis in the markets, there is a two-stage process where we invite some anchor investors and make an IPO later.” Both the Saudi government and Russian railways, with which DB is already working, are potential candidates. DB is tendering for a Saudi rail project and working as a partner with the Russian railways on a freight rail link from China to Germany. No new investor would be allowed to take more than about 5 percent of DB. Hedderich admitted DB only has a short window to revive the float because next September's German election could derail privatization plans that took a decade to win parliamentary approval. He said DB, which had €31.3 billion revenues last year, preferred to raise fresh equity rather than increase its €15 billion debt. Meanwhile, an initiative to place the Hijaz Railway on the Kingdom's tourism map and promote the historic landmark was launched recently. Dubbed “One Million Visitors”, the initiative seeks to attract tourists to the Hijaz Railway Museum located at the Amman station in Al Mahatta, Jordan Hijaz Railway Corporation Director General Mahmoud Khazaleh said.