Top End rail loan collapses

[David Bromage <dbromage@fang.omni.com.au>]

The long-awaited $1.3 billion Alice Springs to Darwin railway was
threatened with collapse yesterday after the consortium behind the
project rejected a $26.5 million loan from one of Asia's richest
businessmen. The dramatic rejection of the last piece of the funding
jigsaw forced South Australia's besieged Government to inject another
$26.5 million into the project, leaving the financially strapped state
with a $176.5 million exposure.

http://www.theaustralian.com.au/common/story_page/0,4511,1841757%255E601,00.html

SA Premier John Olsen responded by announcing public bonds would be
issued to raise the funds, a move that must first be approved by
Parliament.

http://www.theadvertiser.com.au/common/story_page/0,4511,1840973%255E910,00.html