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Queensland Rail welcomes privatization decision

Queensland Rail welcomes privatization decision

Queensland Rail’s CEO, John Prescott, has welcomed a Government decision on the partial privatization of the state-owned transport company.

Premier Anna Bligh has announced that the state will retain ownership of the passenger service business and assets, including the metropolitan rail networks.

But all of QR’s commercial shipping operations – including coal, freight, services and parts of the non-metro network – will be floated via an IPO as a freight company called QR National.

“This is a decision for Government but one that makes sense,” Mr Prescott said.

“We are no longer restricted by the State border and to operate against our national and international competitors we need to be able to compete on a level playing field without the restrictions of government ownership.”

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Tags PrivatizationTransportIPOqueensland railFreight

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