News: Asciano Port Botany project delayed after s

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Asciano Limited (ASX:AIO) says work on the redevelopment of Port Botany is likely to be delayed after equipment was damaged at sea.

 

The AutoStrad equipment manufactured for the project sustained damage when a significant storm hit the carrier sailing from Europe to Australia.

 

Asciano says the full extent of the damage won’t be known until the ship is unloaded and assessed over the coming weeks in Brisbane.

 

The company says it will provide more details of the impact of the damage when it releases its first-half results on February 18. 

 

Asciano says it will take time to fix the damage and there is likely to be a delay to its target launch date of mid 2014. 



Asciano delivered a net profit of $342 million in fiscal 2013.