Asciano secures Queensland coal haulage deal
Asciano has won a deal to haul 7m tonnes of coal each year for two of Macarthur Coal’s mines in Queensland and is looking for more market share.
Pacific National, a subsidiary of Asciano, will transport the coal from Coppabella and Moorvale mines to Dalrymple Bay Coal Terminal from November 1 under a take-or-pay arrangement.
The contract is expected to generate about $250m in revenue for Asciano.
Asciano chief executive Mark Rowsthorn said that haulage deals secured so far had exceeded the company's targets.
“With our first 10 train sets in Queensland now contracted, Asciano will purchase further train sets to support our ongoing growth in this extremely important market,” Mr Rowsthorn said.
“The coal haulage opportunities presented by the northern and southern missing link infrastructure projects as well as the development of the Surat and Galilee basins are clearly next on our agenda.”
Asciano's shares were steady this morning at $1.76 on the Australian Securities Exchange.
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