Asciano signs $250m deal to haul Macarthur's coal.
Ports and rail operator Asciano Group has struck a deal with Macarthur Coal to move seven million tonnes of coal each year from two of the miner's Queensland operations.
Under the take-or-pay deal with Macarthur Coal (C&M Management), which manages the Coppabella and Moorvale mines, Asciano will haul the coal from November 1.
The deal is expected to generate total revenues of $250 million for Asciano, the transport group said in a statement.
Asciano chief Mark Rowsthorn said his company was "extremely pleased".
"With our first ten train sets in Queensland contracted, Asciano will now proceed to purchasing further train sets to support its ongoing growth in this extremely important market," Mr Rowsthorn said.
"The coal haulage opportunities presented by the northern and southern missing link infrastructure projects, as well as the development of the Surat and Galilee basins, are clearly next on our agenda," he said in a statement.
Macarthur Coal Ltd owns 73.3 per cent of both the Coppabella and Moorvale coal mines.