$6 billion port/rail project slated for QLD

Aurizon and Indian mining giant GVK have announced a partnership that will see them build $6 billion worth of rail and port infrastructure for mining projects in Queensland.

The Australian reports the new network will help deliver access to the under-developed Galilee Basin.

Under the new deal the two companies will build a 500km rail line from the Galilee Basin to Abbot Point, with Aurizon, formerly QR National, providing railway logistics and GVK providing financial backing.

According to The Australian the deal means Aurizon will take a 51 per cent share in Hancock Coal Infrastructure, which houses GVK Hancock's rail and port projects.

Mining magnate Clive Palmer previously held talks with QR National over an infrastructure project for the Galilee Basin, and last year announced plans to sue the company for alleged breaches of confidentiality and misleading conduct.

GVK chairman G.V Krishna Reddy said the project was “one of the most significant deals in QLD's history” and Deputy Premier Jeff Seeney said the government strongly supported the development.

Image: dailymercury.com

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