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Benefits
The Surat Basin Rail can bring a number of benefits to business, industry and community at both small and large scales.
- Create employment opportunities for local communities in construction, mining, rail and support industries.
- Deliver a transport solution enabling approximately four billion tonnes of coal reserves in the Surat Basin to become a viable economic resource.
- Provide an open-access railway, with sufficient capacity for other users with appropriate commercial arrangements.
- Contribute greatly to the economic development of regional Australia and support the continues growth of Australia's largest export industry - coal.
- Deliver environmentally friendlier means of transport for coal and other freight.
Planning is now underway for an open-access, multi-user rail link connecting the vast coal reserves west of Toowoomba with the Port of Gladstone (“Project”).
The Surat Basin Rail Joint Venture is investigating the economic feasibility of developing the rail link with the intention of bringing the Project to financial close in late 2009. The Project will involve planning, designing, obtaining all approvals and developing a new railway between Wandoan and Banana. It will also involve collaborating with QR on the required upgrades to its existing rail line between Wandoan and Toowoomba, and Banana to Gladstone, and the interface of the new railway with the existing railway.
Work is currently underway on the detailed design necessary for the rail alignment between Wandoan and Banana, including investigations required for environmental assessment and approval. Over the next 18 to 24 months, the Surat Basin Rail Joint Venture will seek to bring the Surat Basin Rail to bankable financial close. This will then make funds available for commencement of construction.
The Surat Basin Railway Joint Venture comprises the Australian Transport and Energy Corridor Pty Ltd (ATEC); Industry Funds Management (IFM); Anglo Coal; Xstrata Coal and QR.