September 23 2007
MIDWEST CORP COMMITS AS FOUNDATION USER FOR
RAIL/PORT INFRASTRUCTURE
Midwest Corporation Limited
(ASX:MIS) announced today that it has formally committed to become a foundation
user of the railway and port infrastructure planned by Yilgarn Infrastructure
Limited for the mining industry in the Mid West region of Western Australia.
Midwest Corporation and Yilgarn
Infrastructure Limited have formalised exclusive arrangements to deliver
infrastructure in accord with the Iron Ore (Murchison) Agreement Authorisation Act (Midwest’s State Agreement Act).
Midwest Chief Executive Officer
Bryan Oliver said that signing the formal agreement with Yilgarn provided a
lead for other existing and intending iron ore producers in the region.
“As a foundation user Midwest
Corporation is undertaking to commit to Yilgarn’s independently funded,
built and operated infrastructure”, he said.
“An important provision of the
agreement is that other producers who sign up as foundation users will do so on
similar commercial terms to Midwest’s.”
Mr Oliver said Midwest Corporation
would continue working with Yilgarn in accord with Midwest’s
State Agreement Act to progress development of the infrastructure as quickly as
possible.
“We look forward to
constructively working with the State Government, the Mid West community and
other users to construct critical port and rail infrastructure in accord with
Midwest’s State Agreement Act”, Mr Oliver said.
ENDS
For
further information, please contact:
Warrick Hazeldine
Purple Communications
0417
944 616
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