Government buys state rail network from Asciano

13/06/2018 Posted by admin

INFRASTRUCTURE Minister Graeme Sturges has announced the State Government will take over Tasmania’s rail network, subject to approval from rail owner Asciano’s board and Cabinet.Mr Sturges said negotiations between senior officers from his department and senior Asciano executives, which ended this afternoon, had been successful and that the arrangement was the best possible outcome.Mr Sturges would not reveal how much the Government would pay for the network how every its value has been put at between $10 million and $20 million after Asciano wrote off $10.1 million in its last half-yearly report.“At this point in time the proposal is going to the Asciano board and it’ll go to State Cabinet so I think it would be totally inappropriate of me to start talking about amounts of money but I believe it is a very good deal,” he said.Senior executives from Asiano, which owns rail freight company Pacific National Tasmania, arrived in Hobart yesterday for emergency talks with the Government after they gave notice last week they were closing down their West Coast service.The announcement put the future of all rail services in the State in doubt after Asiano was unable to find a buyer for the network which it offered for sale a year ago.The mainline has been closed since the middle of May after a serious detailment at Ryndaston.With the exception of the West Coast line, the Government took overship of the below rail assets of Pacific National in 2006.
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