Aurizon sells ECR coal rail

Freight operator Aurizon has struck an agreement with Magnetic Rail Group to divest of the East Coast Rial (ECR) business for A$425-million in cash.

ECR is the coal haulage business with operations in New South Wales and Queensland, which Aurizon acquired as part of its acquisition of One Rail Australia (ORA). In accordance with Aurizon’s undertaking to the Australian Competition and Consumer Commission (ACCC), the company had to divest of the asset.