Ports and rail company Asciano Group
(ASX:AIO) has signed a 10 year contract with Middlemount Coal for the movement of 3 million tonnes per annum of coal in Queensland.
Middlemount Coal is a joint venture between Aussie coal miner Macarthur Coal Ltd (ASX:MCC) and Singapore’s Noble Group.
Valued at $320 million, Asciano says it will start hauling coal from the new Middlemount mine complex on January 1, 2012.
CEO Mark Rowsthorn says this is a significant step in Asciano’s growth strategy and puts the company in a prime position to take advantage of further growth tonnages from coal producers who have committed to port capacity at Abbot Point.
Mr Rowsthorn says the company has secured over 45 million tonnes of coal haulage contracts in Queensland.
Asciano Group reported a loss of $246.44 million for the year to June 30, 2009.
