AustralAsia Rail Corporation
Encyclopedia
The AustralAsia Railway Corporation was established in 1997 by the Government of the Northern Territory
to build the Darwin - Alice Springs section of the Adelaide-Darwin Railway
. 50% of its board positions and voting right are assigned to the South Australian Government. It owns some of the infrastructure of the Darwin
- Alice Springs, Northern Territory
railway and the lease of the Alice Springs - Tarcoola, South Australia
railway from the Australian Government, and leases (or subleases) them to FreightLink
. In 2000, it awarded the contract to build the Darwin - Alice Springs railway to the Asia Pacific Transport Consortium
as a BOOT
or Build Own Operate and Transfer operation. The lease period here is 50 years (in Australia, for reasons primarily related to the borrowing powers of states, the transfer back obligation may sometimes be omitted)
The Australian Government contributed $165 million from the Centenary of Federation Fund, the Northern Territory Government contributed $165 million and the South Australian Government contributed $150 million to the AustralAsia Rail Corporation for the construction of assets by Asia Pacific Transport Consortium and FreightLink that were later leased for a peppercorn rental to FreightLink. In addition, the three Governments contributed about $26 million each, a total of $79 million in further funding to support the Asia Pacific Transport Consortium directly, by way of mezzanine debt financing (subordinated debt
), equity and contingent equity.
Government of the Northern Territory
The Northern Territory is governed according to the principles of the Westminster system, a form of parliamentary government based on the model of the United Kingdom...
to build the Darwin - Alice Springs section of the Adelaide-Darwin Railway
Adelaide-Darwin railway
The Adelaide–Darwin railway is a north-south transcontinental railway in Australia, between the cities of Adelaide, South Australia and Darwin, Northern Territory...
. 50% of its board positions and voting right are assigned to the South Australian Government. It owns some of the infrastructure of the Darwin
Darwin, Northern Territory
Darwin is the capital city of the Northern Territory, Australia. Situated on the Timor Sea, Darwin has a population of 127,500, making it by far the largest and most populated city in the sparsely populated Northern Territory, but the least populous of all Australia's capital cities...
- Alice Springs, Northern Territory
Alice Springs, Northern Territory
Alice Springs is the second largest town in the Northern Territory of Australia. Popularly known as "the Alice" or simply "Alice", Alice Springs is situated in the geographic centre of Australia near the southern border of the Northern Territory...
railway and the lease of the Alice Springs - Tarcoola, South Australia
Tarcoola, South Australia
Tarcoola is a town in the Far North of South Australia 416 km north-northwest of Port Augusta.Tarcoola is taken from a non-local aboriginal language from an area around Tarcoola Station in NSW; it means river bend.-History:Tarcoola Post Office opened on 18 August 1900 and the town was...
railway from the Australian Government, and leases (or subleases) them to FreightLink
FreightLink
FreightLink is a railway freight operator in Australia that operates over the Adelaide–Darwin railway.-History:In 2000, the AustralAsia Rail Corporation awarded the contract to build and operate the Adelaide to Darwin railway as a Build, Own, Operate and Transfer back project to the Asia Pacific...
. In 2000, it awarded the contract to build the Darwin - Alice Springs railway to the Asia Pacific Transport Consortium
Asia Pacific Transport Consortium
In 2000, the AustralAsia Rail Corporation awarded the contract to build and operate the Adelaide to Darwin railway line as a Build, Own, Operate and Transfer back project to the Asia Pacific Transport Consortium, which consists of:*Kellogg Brown & Root...
as a BOOT
Boot
A boot is a type of footwear but they are not shoes. Most boots mainly cover the foot and the ankle and extend up the leg, sometimes as far as the knee or even the hip. Most boots have a heel that is clearly distinguishable from the rest of the sole, even if the two are made of one piece....
or Build Own Operate and Transfer operation. The lease period here is 50 years (in Australia, for reasons primarily related to the borrowing powers of states, the transfer back obligation may sometimes be omitted)
The Australian Government contributed $165 million from the Centenary of Federation Fund, the Northern Territory Government contributed $165 million and the South Australian Government contributed $150 million to the AustralAsia Rail Corporation for the construction of assets by Asia Pacific Transport Consortium and FreightLink that were later leased for a peppercorn rental to FreightLink. In addition, the three Governments contributed about $26 million each, a total of $79 million in further funding to support the Asia Pacific Transport Consortium directly, by way of mezzanine debt financing (subordinated debt
Subordinated debt
In finance, subordinated debt is debt which ranks after other debts should a company fall into receivership or bankruptcy....
), equity and contingent equity.
See also
- The Ghan (Adelaide-Alice Springs-Darwin passenger train)
- Adelaide-Darwin RailwayAdelaide-Darwin railwayThe Adelaide–Darwin railway is a north-south transcontinental railway in Australia, between the cities of Adelaide, South Australia and Darwin, Northern Territory...
- North Australia Railway (former narrow-gauge Darwin to Birdum (or Palmerston to Pine Creek) railway)