China First Pty Ltd. has launched an $8 billion lawsuit against QR National Ltd. and QR Ltd. for an alleged breach of confidentiality and misleading conduct over a proposed rail link between the Galilee Basin coal region and the Central Queensland coast. The company alleges QR National, which is more than 34% owned by the Queensland Government, breached a confidentiality agreement with China First Pty Ltd.
“Our China First Project will create 6,000 jobs during construction and will generate an estimated $4.6 billion per annum in export revenues once operational,” China First’s spokeswoman Baljeet Singh said. “Now we have QR National in conjunction with the Queensland Government claiming it can build the rail link and create hundreds of jobs in what looks like a bid to score some political mileage in the government’s bid for re-election.
“We intend seeking damages of $8 billion and will also seek injunctions against QR National and other relevant parties seeking to restrain them from dealing with QR National in respect of the Galilee Basin and its corridor and associated port facilities,” Singh said.
The China First Coal Project includes a large scale thermal coal mine near Alpha, west of Emerald. The proposed mine will be linked to the new T4-T9 coal terminal at Abbot Point near Bowen by a new 471-km, heavy-haul railway line.