Subscribe to RSS feedPacific National secures $600m Whitehaven deal
Whitehaven Coal has contracted Pacific National to handle a doubling of its coal haulage to the port of Newcastle over the next two years.
Extra load: Pacific National train loading in Gunnedah
The $600m contract announced this morning covers Whitehaven's loadpoints in Narrabri, Werris Creek and Gunnedah — part of the Liverpool Plains region that is becoming a major growth area for the port's coal export volumes.
The deal is considered long-haul, with some of the loadpoints up to 400 km from the port.
Asciano, Pacific National's parent company, said the take-or-pay contract would require the immediate order of another train-set, already funded in a $160m commitment announced in June.
Whitehaven had also ordered a train-set and PN will lease and operate it from June 2010.
The contract requires PN to invest in more trains as Whitehaven's volumes increase.
All rail haulage contracts are being aligned with below-rail and shiploading capacity, now possible under the port's long-term capacity agreement which takes effect from January.
| Tweet |
