Qube Holdings Limited (ASX:QUB) has reached an agreement with Moorebank Intermodal Company to develop the Moorebank project in South Western Sydney.
The logistics company, through its SIMTA consortium, says the agreement will allow the combining of the SIMTA site and the Commonwealth owned site to be developed as a single precinct.
The agreement is subject to final board and federal government approval.
Managing Director Maurice James welcomes the agreement which should see development commence in 2015.
Qube reported a net profit of $93.3 million in the 2014 financial year.