Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Coal Agreement Welcomed By Toll Rail

Coal Agreement Welcomed By Toll Rail

Toll Rail welcomed the announcement today that Solid Energy and Pike River have signed a long-term agreement for the movement of coal by rail from the West Coast to Lyttleton across the Midland Line.

Toll Rail group general manager Joe Garbellini says that initially they will move the coal with 30 wagon trains however into the future they anticipate increasing the train size to 45 wagons.

He says trials to date have shown this is possible and they will now be talking to the RMTU and Toll Rail staff to finalise plans.

“The larger trains, not deemed possible 2 years ago, are a result of the collaboration of ourselves, our staff, the RMTU, Solid Energy and Ontrack. This is what Toll came here to do, increase the efficiencies, and create opportunities. These are exciting times,” Mr Garbellini said.

Toll Rail currently moves on average 6 coal trains a day along the Midland Line however Mr Garbellini says there is still plenty of capacity for this to increase as demand warrants it.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: Ongoing Monetary Tightening
The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 3 percent from 2.5 percent. The Committee agreed it remains appropriate to continue to tighten monetary conditions... More>>



Statistics: Weekly Earnings Rise As More In Full-time Employment

Median weekly earnings from wages and salaries rose by 8.8 percent to $1,189 in the year to the June 2022 quarter, Stats NZ said today... More>>



Bell Gully: Uncertainty Ahead With New Unconscionable Conduct Legislation

new prohibition against ‘unconscionable conduct’ in trade is one of a number of changes to the Fair Trading Act 1986 that come into force from 16 August 2022. The new prohibition may have wide-ranging implications for many businesses... More>>


Electricity Authority: Imposes Interim Restrictions On Very Large Electricity Contracts

Consumers of electricity will be protected from potentially paying more than they should due to the impact of very large electricity contracts on wholesale prices, under urgent changes announced today by the Electricity Authority... More>>


Westpac: Economic Overview, August 2022 – Pushing Through

The New Zealand economy faces some lean growth in the year ahead as households’ budgets are squeezed, according to Westpac’s latest Economic Overview... More>>


Kiwi Group Holdings: Fisher Funds Acquires Kiwi Wealth Business

Kiwi Group Holdings Limited (KGHL) today announced the sale of Kiwi Wealth to Fisher Funds for NZ$310 million... More>>