Media Release

1 May 2001

Toll Supports ARTC National Track Audit 

Australian Rail Track Corporation (ARTC) has today announced the results of its National Track Audit.

The Audit recommends a $507 million investment programme that will substantially improve the performance of Australia's interstate rail network. Of the $507 million approximately $150 million is already committed by the Federal Government. This means that new expenditure required is in fact about $350 million. 

Toll has been actively involved in the Audit as a member of the Steering Committee that supervised the conduct of the Audit and by providing input on the appropriate performance required by the industry. 

As a rail operator and the largest rail freight forwarder in Australia, Toll has a vital interest in the performance of the national rail network. 

Paul Little said today "The investment programme recommended by the ARTC Audit will give rail the opportunity to dramatically increase its market share. This is not the normal Billion-Dollar 'wish list' of investment that has traditionally come from the rail industry. It is a very sound Report developed in close consultation with the industry. Toll fully supports the Audit recommendations. We want to see the investment programme implemented quickly." 

Ends. 

Contact: 

Mr Paul Little 
Managing Director 
(03) 9694-2820