Aurizon Holdings Limited
(ASX:AZJ) says agreement has been reached for the development of the Moorebank Intermodal Terminal in South Western Sydney.
The logistics company says the Federal government has approved an agreement between the Moorebank Intermodal Company and the SIMTA alliance for the container port.
SIMTA is a consortium comprised of Qube Holdings with 67 per cent and Aurizon with 33 per cent.
The company says the first stage of the import export freight terminal will be connected by rail to Port Botany and is expected to be operational by 2017.
The total cost for the project is anticipated at $1.5 billion over ten years.
Aurizon reported a net profit of $308 million for the first six months of the 2015 financial year.
