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DalyWaters
Deputy Commissioner
Joined: Oct 31, 2006
Last Visited: Nov 20, 2008
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Posted: Mon Apr 21, 2008 9:54 pm
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| Quote: | Sydney - Monday - April 21: (RWE Aust Business News) - The
Tarabot consortium, comprising Asciano (ASX:AIO) and its seven Saudi
Arabian partners, has been selected as the preferred bidder to deliver
the $7 billion Saudi Landbridge project.
The Saudi Landbridge will connect Riyadh, the largest city and
capital of the Kingdom of Saudi Arabia, with the major port cities of
Jeddah and Dammam.
The project involves the management and upgrade of the existing
network between Riyadh and Dammam together with the construction of more
than 1,000km of rail track, and the rail haulage of containerised and
bulk freight across the entire network.
"The project is extremely attractive to Asciano as it will
deliver high returns from a growing freight market with limited capital
investment required by Asciano," managing director Mark Rowsthorn said.
The project is structured as a 50-year concession to build, own,
operate and transfer the network, with the Tarabot consortium owning 80pc
of the concession company and the Kingdom of Saudi Arabia holding the
remaining 20pc.
Subject to finalising consortium arrangements prior to financial
close, Asciano expects to hold a 5pc equity stake in the Tarabot
consortium vehicle.
In addition, Asciano will be a significant shareholder in the
operations and maintenance company as contractor to the concession
company.
Asciano's rail subsidiary Pacific National will provide a number
of services including the secondment of staff to the operations and
maintenance company, which will provide all rail services and manage and
maintain the track network.
Asciano is in ongoing discussions with its consortium partners
regarding the financing of the concession company and the Tarabot
consortium vehicle.
Asciano's maximum capital commitment is expected to be
approximately $US100m.
"Asciano will earn multiple revenue streams as a result of its
investment in the consortium vehicle, its ownership stake in the
operations and maintenance company, and the unique operating capability
of Pacific National," Mr Rowsthorn said.
"Consequently, Asciano expects to generate a very attractive
return on capital employed, and substantially higher than we would earn
if we were simply an equity investor. The ability to leverage our
operating capabilities into new and lucrative opportunities is a key
competitive strength and strategic objective of Asciano."
Construction will begin after financial close, expected in 12
months. |
Can't you just imagine employees of Pac Nat happily queueing up to do a stint in the Middle East!!!
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Draffa
Chief Train Controller
Joined: Apr 11, 2005
Last Visited: Nov 23, 2008
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Posted: Wed Apr 23, 2008 12:52 am
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"Pacific National is an Equal Opportunity Employer. Women and Indigenous Australians are encouraged to apply for positions." 
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pm1225
Deputy Commissioner
Joined: Aug 29, 2005
Last Visited: Nov 23, 2008
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Posted: Wed Apr 23, 2008 6:16 pm
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| Draffa wrote: | | "Pacific National is an Equal Opportunity Employer. Women and Indigenous Australians are encouraged to apply for positions." |
It might be in Australia but it would not want to take any women or Jews onto any project there. It would soon get the boot and no compensation. Remember its a fuedal monarchy.
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Draffa
Chief Train Controller
Joined: Apr 11, 2005
Last Visited: Nov 23, 2008
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Posted: Thu Apr 24, 2008 12:21 am
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We don't have an emoticon for sarcasm.
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DalyWaters
Deputy Commissioner
Joined: Oct 31, 2006
Last Visited: Nov 20, 2008
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Posted: Tue Apr 29, 2008 10:18 pm
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We have to wonder of the consequences of Pacific National running a railway in Saudi Arabia.
Will it increase the terrorism danger to Australia's Railways?
Bin Laden's beef is really with the Saudi royal family and their oppression of the masses whilst a few live in lavish luxury (he was one of these himself throughout his youth). He formed Al Quaeda(?) to stand up against the rulers of Saudi Arabia.
The Americans waded in to his sights when they won the right to station US troops on the holy land (Saudi Arabia) dutring the Bush Senior war against Saddam and Iraq.
Since then Bin Laden spread his wings, attacking US targets.
We have to hope that an Australian company having such a visible operation there, encouraged by the rulers of Saudi Arabia, doesn't open the way for something to happen here.
(Please read this bearing in mind that I utterly deplore everything Al Quaeda has done in pushing their cause).
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YM-Mundrabilla
Chief Commissioner
Joined: 0
Last Visited: Nov 23, 2008
Location: Finke CAR
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XXXX
Beginner
Joined: Jun 20, 2008
Last Visited: Nov 17, 2008
Location: On loan
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Posted: Wed Jul 09, 2008 1:57 pm
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| Quote: |
Can't you just imagine employees of Pac Nat happily queueing up to do a stint in the Middle East!!! |
There could already be people queuing in an orderly fashion...
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MelbourneCity
Chief Commissioner
Joined: Jan 22, 2003
Last Visited: Nov 22, 2008
Location: Melbourne
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Posted: Fri Jul 25, 2008 4:38 pm
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| DalyWaters wrote: | We have to wonder of the consequences of Pacific National running a railway in Saudi Arabia.
Will it increase the terrorism danger to Australia's Railways?
Bin Laden's beef is really with the Saudi royal family and their oppression of the masses whilst a few live in lavish luxury (he was one of these himself throughout his youth). He formed Al Quaeda(?) to stand up against the rulers of Saudi Arabia.
The Americans waded in to his sights when they won the right to station US troops on the holy land (Saudi Arabia) dutring the Bush Senior war against Saddam and Iraq.
Since then Bin Laden spread his wings, attacking US targets.
We have to hope that an Australian company having such a visible operation there, encouraged by the rulers of Saudi Arabia, doesn't open the way for something to happen here.
(Please read this bearing in mind that I utterly deplore everything Al Quaeda has done in pushing their cause). |
I don't think there is any reason to suggest that just because Pacific National has been awarded a contract means Australia is somehow elevated as a terrorist target.
I don't want to sound like the former Howard Government, but we're already a terrorist target - Bali, Jakarta (Australian Embassy bombed - 13killed). A business deal isn't going to alter that threat.
We shouldn't be stopped from doing business just because bin Laden doesn't like it. Screw him, why does he have any say in the world?
Fortunately there has not been a major terrorist attrocity in the western world for some months now.
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