AURIZON AND QUBE ENTER SYDNEY TERMINAL NEGOTIATIONS

Written on the 23 May 2014

AURIZON AND QUBE ENTER SYDNEY TERMINAL NEGOTIATIONS

AURIZON Holdings Limited (ASX:AZJ) and Qube Holdings Limited will negotiate ownership rights over the Moorebank Intermodal Terminal in Sydney.

The rail freight operator and Sydney-based logistics company announced they would work out development and ownership terms with Moorebank Intermodal Company (MIC) yesterday.

The Federal Government-owned MIC, in conjunction with the Sydney Intermodal Terminal Alliance, has evaluated interest from numerous candidates in the last six months.

Aurizon managing director Lance Hockridge says the company is well-placed to co-develop the rail and port infrastructure asset.

“The project will potentially help unlock the transport gridlock of Australia’s largest city and will deliver strategic and critical export infrastructure for the nation,” he says.

The MIC has asked two other potential parties to remain on standby, in case the agreement isn’t finalised within six months.

Qube managing director Maurice James says both companies will work hard to deliver a government-approved solution to secure the deal.

“We have always believed that the Moorebank precinct should be developed as an integrated freight hub for South Western Sydney.

“Adopting a whole of precinct approach will produce the most efficient outcome for taxpayers and the community in the development of this vital freight infrastructure,” he says.

The terminal will manage freight containers carried by rail to and from Port Botany and the interstate rail network, to reduce the use of trucks and ease traffic congestion.


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