AusRAIL, Market Sectors

Toll wants more money for east coast rail corridor

<p>Toll Holdings believes more funding will be needed on the Melbourne-Brisbane rail corridor than the $870m promised under the Australian Rail Track Corporation’s (ARTC) lease agreement with New South Wales.</p> <p>Toll managing director Paul Little told the <em>Australian Financial Review </em> that the ARTC cash is a start but it would not go far enough to underpin the anticipated growth along the corridor.</p> <p>Mr Little said he believes volume along the corridor could double within the next 10 years, the paper reported.</p> <p>Toll and Patrick last month acquired Freight Australia for their joint rail venture, Pacific National, giving it overwhelming dominance of the Melbourne-Brisbane route.</p> <p>Mr Little told the <em>Financial Review </em> that some of the government infrastructure investments along the corridor would be recouped through users like Pacific National.</p> <br />