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QR National Limited (ASX:QRN) has signed a $900 million rail project deal, to build an export terminal at the Gladstone liquefied natural gas project.
The deal was made with a consortium of coal miners including Xstrata Coal, Bandanna Energy (ASX:BND) and Aquila Resources Limited (ASX:AQA). Construction is set to begin in early 2012, and is planned to be finished by March 2015.
The group of companies have projects based in the Southern Bowen and Surat basins, leading to a 30 per cent increase in tonnes of coal transported from the southern Bowen basin.
QR National said the Wiggins Island Rail Project is expected to generate up to 3,000 direct and indirect jobs during the construction phase, and to draw on the services of local companies.
QR National Limited (ASX:QRN) reported an annual net profit for the year to June 30 of $349.5 million.
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