Coal news and updates

GVK Hancock and Aurizon have been in talks for months about building rail corridors from GVK's proposed coal developments in the Galilee Basin to a new export terminal at Abbot Point, north of Bowen.

 

In March, the companies announced Aurizon would acquire a 51 per cent share in the project's rail and port infrastructure.

 

They have agreed to a rail solution, where 300 kilometres of rail line will be built before connecting to existing Aurizon lines, instead of the 500 kilometre network that was originally proposed.

 

Both companies say it is a milestone for the combined projects, which are expected to cost more than $6 billion to complete.

 

 

Source: http://www.abc.net.au/