Rail freight provider QR National Ltd. (QRN.AU) has agreed with a consortium of coal miners and exporters to construct a A$900 million rail line to a coal export terminal at Wiggins Island at Gladstone on Australia's northeast coast, the company said Monday.

Construction will begin early next year and generate up to 3,000 jobs directly and indirectly with first railings in mid 2014 ahead of completion by March 2015, QR said.

The rail project supports the initial 27 million metric tons a year of coal to the proposed Wiggins Island terminal.

The coal companies involved are Xstrata Coal, Bandanna Energy, Caledon Resources, Northern Energy Corp., Yancoal Australia, Wesfarmers Curragh and Cockatoo Coal.

-By Ray Brindal, Dow Jones Newswires; 612 62080902; ray.brindal@dowjones.com

Bandanna Energy (ASX:BND)
Historical Stock Chart
From Dec 2024 to Dec 2024 Click Here for more Bandanna Energy Charts.
Bandanna Energy (ASX:BND)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Bandanna Energy Charts.