Aurizon will withdraw its application to the Northern Australia Infrastructure Facility (NAIF) for funding to assist with a rail solution for the development of the Galilee Basin in Queensland.
Managing Director and CEO, Andrew Harding, said Aurizon continued to support the development of the Galilee Basin.
“When developed it has the potential to provide a major boost to the national economy and create thousands of jobs in regional Queensland,” Mr Harding said.
“We believe Aurizon can play a key role in helping facilitate a multi-user, open access rail solution for the various new mines in the region.
“However, while we are in ongoing discussions with several Galilee Basin mine proponents we have not yet progressed to definitive contractual arrangements with any proponent.
“Our NAIF application is, in part, predicated on having customer contracts secured. Given this is unlikely to occur in the near future we believe it is prudent to withdraw the NAIF application.
“If market circumstances change and our discussions with potential customers progress to commercial arrangements we will look at all possible financing arrangements to develop the rail solution.”