Council needs to fast-track rail before gridlock
First train ride re-enacted for Queensland Rail's 150th birthday
Nambour a better option: Woombye anti-rail stabling group
South west Queensland pushes for more rail services for cattle
Tilt Trains set for a major overhaul
Ipswich celebrates heritage at Rail Museum on Open Day
Two rail lines earmarked for northern Australia
The $55.8 million dual gauge rail line from Acacia Ridge to Bromelton remains unfinished
Police investigate if fallen powerlines on Gold Coast train line work of vandals
Sourcing critical railway upgrade funding needs cool heads and smart solutions
CANBERRA -(Dow Jones)- Federal government-owned Australian Rail Track Corp. will join 13 mining companies and take up an equity interest in Queensland Coal Industry Rail Group, the corporation said Thursday.
Rail Track Corp. will become a party to a subscription agreement with the other members of the consortium, it announced in a brief statement. A spokesman said further information isn't available at this point.
In May, Queensland Coal Industry Rail Group, which includes BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RTP), unveiled a A$4.85 billion bid for the Queensland Rail coal network in an attempt to prevent it being sold on the stock market as part of a broader privatization.
Queensland Rail chief executive Lance Hockridge was subsequently reported as having rejected the bid.
He has since said offer documents for the float of the Queensland government-owned rail operator are likely to be released in August or September.
Australian Rail Track Corp. has responsibility for the management of over 10,000 kilometers of track in South Australia, Victoria, Western Australia and New South Wales, and also manages the Hunter Valley Coal Rail network in New South Wales and other regional rail links.
-by Ray Brindal, Dow Jones Newswires; 612 62080902; firstname.lastname@example.org
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2019 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.