AusRAIL, Market Sectors

WA knocks out Westrail debt

<p>The Western Australian Government will retire $328.5m of debt "resulting from the coalition’s failed privatisation of Westrail’s freight division", state treasurer Eric Ripper said.</p> <p>Westrail Freight was sold in 2000 at a loss and promised investment in new rail infrastructure and rollingstock had failed to materialise, the government said.</p> <p>The state had spent about $100m servicing the leftover debt, Mr Ripper said.</p> <p>An operating surplus for 2004&#4705 meant cash could be used to retire the debt early, he said.</p> <br />