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RAIL giant Aurizon will offload its general freight business, including a Brisbane terminal, after announcing a $188 million loss for the past year.
The Brisbane-based company yesterday said continuing losses at its intermodal freight business and the impact of Cyclone Debbie on its coal network had hit its bottom line.
Revenue had flat-lined at $3.45 billion for the year after a shutdown of the Queensland coal network in Queensland following Cyclone Debbie.
Aurizon chief executive Andrew Harding said the Queensland intermodal business would be purchased by a consortium of Linfox and Pacific National for about $220 million after racking up losses over several years.
The intermodal terminal at Acacia Ridge will be sold in a separate transaction to Pacific National while the intermodal business outside of Queensland would be closed.
This article first appeared on www.couriermail.com.au
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