Asciano Signs Agreement With Macarthur In Queensland, Australia
Published:04-February-2010
By Staff Reporter
Asciano has signed a long term, take or pay contract with Macarthur Coal (C & M Management) for the movement of seven million tonnes of coal per annum from the Coppabella and Moorvale mines in Queensland, commencing on November 01, 2010.
According to the company, the signing of this agreement will generate total revenues of approximately $250m for Asciano and confirms Macarthur related entities as Asciano’s coal haulage customer in Queensland, with annualised tonnes in excess of ten million.
Mark Rowsthorn, managing director and CEO of Asciano, said: “Asciano’s entry into the Queensland market has immediately raised the bar on service quality and we are extremely pleased with the confidence that Macarthur Coal has shown in our performance to date. Macarthur is a dynamic organisation that is focused on delivery and performance and we look forward to continually searching for ways to contribute to their ongoing success.
“We originally planned on securing contracts totalling 30 million tonnes by the end of 2010 and that box has well and truly been ticked and what’s more, every contract signed to date will deliver returns at or above our internal benchmarks.”
Asciano is an Australian transport infrastructure company. The company brings together the combination of Pacific National rail operations with Patrick ports and stevedoring businesses to create a unique transport infrastructure company. It owns and operate a range of infrastructure assets including ports and rail across Australia.
