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Records continue to tumble as investment in the Hunter Valley Coal rail network continues. Australian Rail Track Corporation announced today that latest figures show a record haul of coal was delivered to port last weekend.
Releasing the figures today, ARTC announced that 328,000 tonnes of coal were delivered to port over a 24 hour period last weekend, shattering the old record of 314,000 tonnes.
The announcement of the record haul follows closely on the heals of the Federal Government’s announcement of investment totalling $1 billion in the Hunter Valley Coal rail network. This will increase export coal capacity from 97 million tonnes per annum (mtpa) to 200 mtpa in 2012.
The investment will also see the creation of over 500 new jobs, peaking at 650 in 2010.
ARTC CEO David Marchant explained that increasing capacity on the rail line is essential for keeping ahead of market demand.
“The record haul of coal last weekend is extremely encouraging and a positive sign of the increasing efficiency of the Hunter Valley rail corridor.”
“Against the backdrop of an increasingly volatile world markets, it is essential for the Australian economy that the Hunter Valley rail network is able to meet future market demand and deliver coal to port efficiently and on time.”
“The investment announced by the Federal Government and the ongoing construction of infrastructure by ARTC will enable significant growth from mines in the Gunnedah Basin, Ulan and Central Hunter Valley.”
“We know that there is more to do as demand on Hunter Valley coal is set to increase dramatically by 2012. The ongoing upgrade of the corridor with new signals, more passing loops and bridge replacements is part of ARTC’s strategy to stay ahead of future export capacity for coal,” Mr Marchant said.