QR open for business with private sector, says acting boss

Staff WriterJuly 27, 2007, 12:00 amJuly 27, 2007

QR is committed to national expansion of its freight business and is seeking new opportunities and private-sector partners to make this happen, acting chief executive Stephen Cantwell said today (Friday, July 27). With Queensland premier Peter Beattie flagging greater private enterprise involvement in QR, and Linfox and Toll expressing a desire t pick up any privatised assets,Mr Cantwell said it was no secret that QR had been seeking opportunities in the marketplace to find potential private-sector partners to join QR in the freight business. &#8220That’s the reason we bought CRT in 2005 and ARG in 2006,&#8221 he said. &#8220We need additional scope, scale and capability to compete nationally. This can be achieved quickly with private-sector partners. &#8220With the national general freight market expected to double in the next decade and the resources sector booming we’re in a prime position to take advantage of the growth opportunities expected in rail. &#8220We know that we can compete and be successful in interstate markets. We have proven that in NSW with the winning of coal business. &#8220But we recognise that QR needs to keep evolving and re-shape itself for the future. We need to take a major step forward and grow the business rapidly.&#8221 Mr Cantwell said it was not his role to comment on any reviews that might be considered by the State Government, the owners of QR. &#8220QR will continue to review its organisational structure as is standard practice for any large corporation with a portfolio of businesses,&#8221 he said. &#8220That’s what we’ve done with the recent decision to create three stand-alone businesses in bulk freight, coal, and intermodal and regional freight. &#8220We’ve received much attention recently about performance in the coal business, and we’re listening to our customers’ concerns. &#8220We understand the O’Donnell review of the Goonyella system will be released next week, and our clear focus will be on getting on with implementation of the review recommendations.&#8221