Article: Govt to take over rail

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From the ABC News click here!

Govt to take over rail

Govt to take over rail

Posted Fri Jun 19, 2009 4:41pm AEST

The government will not disclose the price but says it is a good deal. (ABC News)

All Tasmanian rail operations will be taken over by the State Government at the end of November.

The Government has reached agreement with the owner Asciano.

It is more than a year since Asciano put its assets up for sale.

Earlier this month the company lost patience and said it would close its west coast operations.

After two days of intense negotiations in Hobart, the government has agreed to buy all Tasmanian assets from the company.

The Minister for Infrastructure, Graeme Sturges will not say what price has been agreed to but says it is a very good deal for Tasmania.

But it still needs to be signed off on by the Asciano board and State Cabinet before it goes ahead.

All rail operations will now continue until the transfer on the 30th of November.