Re: Alice Springs - Darwin contract signing this week

["Peter Berrett" <pberrett@optushome.com.au>]

Yay!

cheers Peter


David Bromage <dbromage@fang.omni.com.au> wrote in message
oMyG5.96$QR.5415@news0.optus.net.au">news:oMyG5.96$QR.5415@news0.optus.net.au...
> Alice Springs-Darwin railway contracts to be signed
>
>    DARWIN, Oct 16 AAP - Contracts will be signed for construction
> of the Alice Springs-Darwin railway on Wednesday, three months
> after they were to be finalised in London during Australia Week
> celebrations.
>    Prime Minister John Howard, South Australian Premier John Olsen,
> Northern Territory Chief Minister Denis Burke and leaders of the
> private sector partners, the Asia Pacific Transport Consortium,
> will sign off on the project at a ceremony in Adelaide.
>    Mr Burke said the final documentation expected to be completed
> next month when financing was settled was only a formality.
>    "As far as I'm concerned, the deal has been done," Mr Burke told
> reporters in Darwin today.
>    He said an alternative signing ceremony had been planned for the
> Northern Territory on Saturday if the banks had not granted the
> consortium in-principle finance approval by Wednesday.
>    The consortium has yet to complete equity and debt documentation
> ready for financial closure on November 30.
>    Mr Burke said an Australian Taxation Office private ruling that
> the consortium was waiting on was also not an issue.
>    "I understand the actual determination will involve no surprises," he
> said.
>    The $1.23 billion railway - Australia's largest infrastructure
> project since the Snowy Mountains scheme - is on track for
> completion by early 2004.
>    Mr Burke and Mr Olsen will sign an agreement with the consortium
> covering a 50-year concession deed, leases covering the rail
> corridor including on Aboriginal land as well as leases to operate
> at Darwin's East Arm Port and container terminal.
>    Mr Howard will sign the commonwealth deed of grant for the $165
> million committed to the project from the Federation Fund.
>    The consortium has undertaken to spend 70 per cent of the
> project's costs in South Australia and the Northern Territory with
> 1,200 direct jobs on railway construction.
>    Mr Burke said pre-construction drilling and corridor-clearing
> work would begin immediately after Wednesday.
>
> AAP rmg/hu
>
>