Public Float
In June 2009 the Queensland Government announced the Renewing Queensland Plan, with Queensland Rail's commercial activities to be separated from the Government's core passenger service responsibilities, formed into a new company named QR National Limited and privatised. The company was split into two from July 2010 with QR National taking the coal business in Queensland and New South Wales, regional freight business in Queensland, bulk mineral and grain haulage in Queensland and Western Australia, and containerised freight between Cairns, Brisbane, Sydney, Melbourne, Adelaide and Perth.
QR National received a 99 year lease over the 2,300 km Queensland coal network:
- Blackwater system based around the Port of Gladstone
- Goonyella system based around the Port of Hay Point and Dalrymple Bay
- Moura line to the Port of Gladstone
- Newlands line to Port of Abbot Point
It is responsible for the maintenance of these lines.
The rollingstock workshops at Redbank, Rockhampton and Townsville were also included.
QR National was floated in November 2010. From July 2011 all subsidiary operations were rebranded as QR National.
Read more about this topic: QR National
Famous quotes containing the words public and/or float:
“Reality has become so absorbing that the streets, the television, and the journals have confiscated the public interest and people are no longer thirsty for culture on a higher level.”
—Andre Plesu (b. 1948)
“Looking foolish does the spirit good. The need not to look foolish is one of youth’s many burdens; as we get older we are exempted from more and more, and float upward in our heedlessness, singing Gratia Dei sum quod sum.”
—John Updike (b. 1932)