fmg now in trading halt this could be big!!, page-23

re: set to fly One significant paragraph here. "Heavy ore rail line". Looks like this is not just some light return line. They are building heavy ore rail line, one assumes like the BHP line.....

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WA scores China-backed iron ore project
A group of Chinese companies have agreed to finance and build a $1.85 billion iron ore and infrastructure project in the Pilbara in Western Australia.

The project was signed off in a ceremony in Beijing today.

Three Chinese state owned companies have joined forces with Australian company Fortescue Metals to open up a major new iron ore supply source and corridor in Western Australia.

The Australian company owns the lease to the iron ore and the Chinese companies will provide the financing, design and construction for the mine, heavy ore rail line and port facilities.

Fortescue Chairman Andrew Forrest says the Pilbara is the world's largest iron ore region, but until now supply to China has been restricted by limited infrastructure.

"With this infrastructure system we're not building an iron ore transportation system to serve one company, we're building an iron ore system to serve all companies in the Pilbara," he said.

"That will enable all those independent iron ore companies to serve China and therefore serve this new dimension of the relationship between China and Australia."

The project is expected to be completed by 2007.