This is on track. MELBOURNE, Sept 15 (Reuters) - Australia's...

This is on track.

MELBOURNE, Sept 15 (Reuters) - Australia's Queensland state

plans to send out pre-registration documents for its $6.6 billion

coal-rail initial public offering by the end of September, paving

the way for a float this year, state Treasurer Andrew Fraser

said.

Fraser's timeframe is the first official confirmation of the

timing of the IPO.

A prospectus for the QR National coal transport business

could be released in mid-October, with an institutional roadshow

to follow, aiming for a float in mid- to late-November.

Last week, a group of major coal miners dropped its $4.7

billion bid for the coal rail network, clearing the way for the

state to float the whole business.

The coal haulage tracks and trains business is valued at A$7

billion ($6.6 billion) and the IPO would be the largest on the

Australian market since telecoms company Telstra was

privatised in three tranches.

The float has been opposed by the coal firms and freight

operator Asciano Ltd , which has been making inroads

against Queensland Rail in coal haulage.

In a draft recommendation on Tuesday, the National

Competition Council ruled in favour of the government and against

Asciano, to keep regulation of the rail network under the

jurisdiction of a state authority instead of a federal

competition regulator.

Asciano wanted users of the rail track to be able to go to

the Australian Competition and Consumer Commission to set prices

on the rail lines if they could not agree on a fair price with QR

National.



(Reporting by Victoria Thieberger; editing by)

(([email protected]; +61 3 9286 1421; Reuters

Messaging: [email protected]))

Keywords: QRNATIONAL IPO/


QLD is a new market for AIO and taking market share from QR National as the coalies want competition.