Freight company Aurizon said the development will unlock Galilee Basin coal reserves and help support the next phase of coal growth in the Bowen Basin. Aurizon and Rinehart’s company, GVK Hancock, plan to develop and manage a port and rail project with the capacity to ship 60 million metric tons per year. The projects involve a greenfield rail project and a development right for a coal terminal at Abbot Point. Under the proposed deal, Aurizon will acquire a 51% interest in Hancock Coal Infrastructure, which owns GVK Hancock’s rail and port projects.
