QR National Says Wiggins Island Rail Project On Track For 2015 Completion

QR National Ltd. (QRN.AU) said Tuesday the construction of its Wiggins Island Rail Project, which will link to a new export terminal at Gladstone, is on track for completion by March 2015 after the scheme was approved by the Queensland Competition Authority.

In September, QR National's wholly owned subsidiary QR Network Pty Ltd. agreed with a consortium of coal companies, including Xstrata Coal, Aquila Resources (AQA.AU), Caledon Resources, Northern Energy Corp. (NEC.AU), Yancoal Australia Pty. Ltd., Wesfarmers Curragh and Cockatoo Coal (COK.AU), to build the rail project.

Work at the site started earlier this year and first railings are scheduled for mid-2014.

"We've got a large workforce already mobilised in the field and making good progress," QR National Executive Vice President Network Michael Carter said in a statement.

-By Rhiannon Hoyle, Dow Jones Newswires; 61-2-8272-4625; rhiannon.hoyle@dowjones.com

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