Deal reached on Pacific National

Tasmanian Government finally reveals it will purchase Pacific National for $32 million

The Tasmanian Government has finally revealed it will purchase Asciano’s Pacific National Tasmania (PNT) for $32 million, two weeks after it was agreed the company would once again become a government asset.

Minister for Infrastructure Graeme Sturges made the announcement today and says the final purchase price was the result of hard negotiations.

"Under the terms of the Heads of Agreement, the Tasmanian Government will negotiate a Business Sale Agreement with Asciano by 31 July 2009 to buy the PNT business," Sturges says.

"This includes $6 million to purchase the Melba Line assets, including the Burnie Ship loader and $26 million for the purchase of the remainder of the business assets including locomotives, rolling stock and buildings."

Sturges says PNT will continue to deliver rail services throughout the states rail network until the transfer of business is complete.

The deal will become official once a Business Sale Agreement is complete which will be subject to both the Tasmanian Cabinet and Asciano’s Board of Directors.

Sturges says he is "committed" to working with Asciano to ensure the sale goes through sale and ensure the future of rail in the sate.

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