Queensland Rail could float on the ASX as early as October in a $3 billion sale which would include its coal network business.
CEO Lance Hockridge has told The Australian newspaper that the float will take place in the final quarter of this year and that Queensland Rail made over $280 million last year.
Queensland Rail has been valued at $7 billion, but the Queensland government has signalled it will keep up to 40% of the company when it is floated and later sell down the stock.
The proposed sale of the company has been criticised by the market and compared to Telstra, but Mr Hockridge rejects the claims, saying the two companies have nothing in common.
More than 20 mining companies will meet in Brisbane today to discuss options, including forming a consortium to buy QR's coal freight rail network.
