Incitec Pivot Limited
(ASX:IPL) says it expects a one-off $14 million write down from a train derailment in Julia Creek, Queensland.
The train, operated by a third party, was carrying more than 800,000 litres of sulfuric acid for use at Incitec Pivot’s Phosphate Hill manufacturing facility when it overturned near Julia Creek two weeks ago.
Wet weather in the area has delayed access to the site which requires construction of a rail deviation. The construction is now underway and IPL expects full plant activities to resume within the next two weeks.
Output to the Australian fertiliser market is not expected to be affected.
Incitec Pivot reported a net profit of $398.9 million for the full year to the end of September 2015.
