|TasRail Welcomes Funding Announcement|
TasRail has welcomed the Australian Government’s commitment of funding for the rail network, as announced in the 2011/12 Federal Budget.
Chief Executive Officer, Damien White said the funding was crucial to TasRail’s Rail Recovery Plan and consistent with the company’s overall expectations.
“The Tasmanian and Australian Governments recognise the importance of having a reliable and efficient rail freight system in Tasmania”, Mr White said. “The money will be used to help address some of the inherited backlog of track defects and renewal requirements”.
Mr. White said TasRail will continue to work with the Tasmanian and Australian Governments to secure future funding requirements.
“In its first 18 months of operation, TasRail has made substantial progress to improve the safety and reliability of its rail freight operations”, he said. “We are seeing a growing confidence in rail, and this has enabled us to attract a number of new business opportunities”.
In the past twelve months, TasRail estimates that its freight operations have replaced 100,000 B-double truck movements, representing substantial fuel savings and reducing greenhouse gas emissions by up to 65,000 tonnes.