This is from 'The Australian' on August 24 online in the evening.
This may not involve QUB as the rail operator as it and Salta Properties terminated an agreement they had a couple of years ago, but article does not state who will run the intermodal trains.
"The billionaire Tarascio family and the Victorian government have signed an agreement to jointly fund a major intermodal terminal in the Melbourne suburb of Dandenong South that will support 1000 construction jobs.
Salta anticipates the value of new development on an adjoining estate will exceed $1bn over the next three to five years thanks to a new rail link.Works will start next year on what will become Melbourne’s biggest intermodal terminal, enabling the efficient movement of thousands more containers through the clogged Port of Melbourne.Operations at the port are limited by the availability and capacity of trucks to transport freight via road causing serious congestion.
Salta founding director Sam Tarascio Snr said the new rail freight terminal would provide opportunities for operators to switch freight transport from road to rail.
“This will ease congestion, reduce costs, and provide greater opportunities for imports and exports in the South-east of Melbourne,” he said.
The project, one of the largest of its type, will generate a further 1,800 indirect construction jobs and another 1600 ongoing direct jobs and 4,500 on-going indirect jobs running the terminal.
Salta Properties and the Victorian and federal governments will jointly invest $28m on government owned land to connect rail to Salta’s site boundary, with the project to help shift more containerised freight...'
QUB Price at posting:
$2.92 Sentiment: Hold Disclosure: Held
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