QR moves into NSW with Northern Rivers Railroad buy
by LLDCN 11:41AM, 12 Mar 2002
QR has taken the first step to become a national operator with the acquisition of the freight assets and business of Northern Rivers Railroad (NRR).
The Casino-based NRR gives QR entry into the New South Wales market for the first time.
QR made the purchase through its new wholly-owned subsidiary QR National and will run the rail company under the name Interail.
The Queensland company has been eager to expand interstate for years.
QR chairman Bronwyn Morris said: “Rail is a national market and while other rail organisations can now compete for our customers up here, we need to be able to do the same in southern states.
"That is the only way we will grow our business.
“For more than two years, QR has been prevented by interstate governments from bidding either on our own or in consortiums for some of Australia's biggest rail assets.
"The recent sale of National Rail and FreightCorp was the latest example. With that sort of 'level' playing field we have had to think creatively.”
Of the Interail operation, she said: “It is a low-cost, low-risk Virgin Airlines-type entry to what we believe will be some very lucrative new markets.”
The sale does not include NRR's tourist train service.
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