Asciano plans to spend $607.5m on terminals

<p>Toll’s proposed ports and rail spin-off, Asciano, plans to spend $607.5m on its container terminals over the next three years, according to a presentation document released today (Thursday, April 26).</p> <p>&#8220Asciano will have access to a cash advance term facility of $550m provided for the purpose of funding future capital expenditure requirements of the Asciano Group,&#8221 the document stated.</p> <p>It will also have $150m in a working capital facility and $250m in cash, along with debt of $4.2bn.</p> <p>Maintenance capital expenditure was put at $150m a year.</p> <p>The company expects to spend: $207m on East Swanson Dock, $160.7m on Port Botany, $149m on Fisherman Islands and $90.8m on Fremantle.</p> <p>By next financial year, it believes profits between its main revenue streams will be $341m, or 48%, from ports and $371m (52%) from rail.</p> <p>The document did not detail the expenditure and <em>Lloyd’s List DCN</em> was awaiting a reply from Toll&#47Asciano at deadline.</p> <p>Annual throughput in all terminals was expected to rise from 2.3m teu in 2006&#477, to 2.5m in 2007&#478.</p> <p>The company plans to list on June 6 and make a $150m share placement on June 13.</p> <br />