The combined value of the soon-to-be-privatised National Rail Corporation and the NSW-owned FreightCorp is believed worth $1.5 billion to $2 billion. National Rail is 70%-owned by the federal government, with 20% owned by New South Wales. Victoria owns the remaining 10%.
Federal Transport Minister John Anderson said due diligence had begun, with a preferred bidder to be announced in early December.
The groups are believed to include a Babcock & Brown syndicate comprising UK rolling-stock group Porterbrook and US rail operators Railroad Development Corp and Railworld. Other include the consortium between Wesfarmers and U.S.-based Genesee & Wyoming Inc, Toll Holdings-Lang Corp, GrainCorp-Linfox-Thiess and Freight Australia.
