Sunfish,
The Darwin to Tarcoola line went bust.
It cost over a $1bn to build financed mostly by a bunch of debt and a bit of equity from a few construction companies and governments. Equity was wiped out and it was sold by the banks.
It was not even earning enough to pay the interest bills. Was built on the premise that ships would unload goods in Darwin and then send goods down to Adelaide and thence onto Sydney and Melbourne - this simply didn't happen - the ships already go around Australia and the difference to ship to Darwin versus Sydney is minimal, thus freight didn't flow. Is thus a total white elephant as a project.
It was also not sold sold to Carlyle.
It was sold to Genessee & Wyoming, a US listed train operator, that previously operated other freight lines in South Australia
Genesee & Wyoming Australia
Just one of the many totally factless posts in this forum
