FreightCorp will spend around $40 million to buy 301 new rail wagons, 196 of which will be new 120-tonne coal wagons. Older wagons and those with lower payloads, will be gradually phased out over the next four years.
“The purchase of the new wagons is critical to Freightcorp's future growth,” Freightcorp managing director Lucio Di Bartolomeo said.
Freightcorp general manager of coal services Peter Winder said the future looked “very positive” for Australia's export coal industry in the climate of improved international prices.
“We have an attractive market currency, Port Waratah Coal Services have committed to expanding its service at the Port of Newcastle and Freightcorp will now be well positioned to harness these potential growth opportunities,” he said.
FreightCorp expects to haul 67 million tonnes of coking and steaming coal this year with growth forecast to grow to 80Mt by 2003. FreightCorp currently operates 40 coal trains per day to the port of Newcastle and services 30 rail loading terminals in the Hunter Valley.