News: Qube advances Sydney freight hub aspiration

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Logistics group Qube Holdings Limited (ASX:QUB) and rail freight operator Aurizon Holdings Limited (ASX:AZJ) have started talks to develop an integrated freight hub for South Western Sydney. 

Qube and Aurizon have commenced negotiations with the Commonwealth owned Moorebank Intermodal Company about the development and operation of the Moorebank Intermodal Terminal. 

Qube and Aurizon have a joint SIMTA consortium which is pursuing the talks in addition to progressing development of its own intermodal terminal at Moorebank. 

Qube’s Managing Director Maurice James says the SIMTA consortium hopes to reach an agreement with the Commonwealth over the next few months. 

Aurizon’s Managing Director Lance Hockridge says the proposed project is poised to unlock Sydney’s transport gridlock and deliver export infrastructure for the nation.  

Qube Holdings reported a net profit of $43.4 million in the first half of the 2014 financial year.