Graincorp invests $60M to support rail upgrades

Company News

Graincorp Limited (ASX:GNC) says it will invest $60 million in 13 country site upgrades this year. 
 
The grain handler has launched the initiative as part of Project Regeneration which was announced in June last year. 
 
Project Regeneration involves developing a network of more than 50 high capacity country sites to support an efficient rail operation. 
 
Graincorp says this will reduce rail costs by about $5 per tonne and return up to 1 million tonnes of grain to rail.
 
Graincorp reported a net profit of $50.3 million in the year to the end of September 2014. 

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