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Rail operator QR National has increased its ownership stake in a Sydney site where a large freight centre is set to be built.
QR National had spent $41 million to increase its stake in the Moorebank Industrial Property Trust (MIPT) from 15 per cent to 33 per cent, the rail operator said in a statement on Monday.
MIPT is the manager of an 83-hectare property at Moorebank, in Sydney's southwest, the site of a proposed freight terminal and port-linked industrial facility.
A development proposal for the site is underway and an environmental assessment of the concept has been lodged with New South Wales planning authorities.
QR National increased its stake in MIPT after property group Stockland recently sold its 55 per cent interest.
Qube Logistics, which previously held a 30 per cent stake in the trust, now holds 67 per cent.
This article first appeared on news.ninemsn.com.au
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