Bligh invites buyers for QR shares listing

QR National to be floated, Anna Bligh announces; Queenslanders can own share of "icon"

December 8, 2009

Queenslanders will be able to buy into Queensland Rail, with the State Government to set up a publicly-listed company to sell off the freight division.

Announcing the future structure of QR's businesses today, Premier Anna Bligh says the QR coal and freight network will be floated through a share offer.

Bligh says selling the "Queensland icon" allows all residents to "own their own piece".

"Through their investment, they will get the opportunity to watch this business grow into a truly national and international company."

Bligh confirmed this afternoon the Government will retain passenger services in public ownership, but will push through with its plan to sell the remaining businesses.

"This structure will see us establish a brand new Government-owned corporation exclusively for our passenger network," she says.

QR National is set to be a top 50 ASX company and grow to become Australia’s biggest coal transport and freight business.

Bligh has also confirmed three other assets will be leased progressively from next year, including Port of Brisbane, Abbot Point and Queensland Motorways Limited.

"We have taken advice from our commercial advisors, and they firmly believe that there is a growing appetite for these businesses in the market - the time is right," Bligh says.

The timber business, Forestry Plantations Queensland, was put to market on November 26, with the process expected to be completed by June.

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