Aurizon Holdings Limited (ASX:AZJ) has gained exclusive rights to develop a plan for the rail and port infrastructure for the West Pilbara Iron Ore project.
The freight operator says it will have until the beginning of 2016 to develop an infrastructure solution for the iron ore project which is a joint venture between Baosteel, American Metals & Coal International, POSCO and Aurizon.
The first stage will involve a deep-water port at Anketell and a 280 kilometre railway to move 40 million tonnes per annum through eight mining areas.
The parties to the agreement have the right to terminate the deal if the proposed plan can't be agreed upon within the exclusivity period.
Aurizon reported a $252.8 million net profit in the 2014 financial year.
