Anyone see todays ann by MIS that the Mid West/Yilgarn Infrastructure group has just recieved $750m in funding from 6 of China's largest Steel Groups to develop the Mid West Infrastructure?
Sounds like the demand for Iron Ore will be here for a lot longer
Suite 2, 1st Floor
32 Kings Park Road
West Perth WA 6005
Post Address: ACN 009 224 800
PO Box 1915
West Perth WA 6872
Ph: +61 8 9226 2033 Fax: +61 8 9226 3388 Email: [email protected] Web: www.midwestcorp.com.au
ASX / Media Release
Midwest Corp welcomes Chinese Infrastructure Investment
Midwest Corporation Limited (Midwest) welcomes today’s announcement by Yilgarn Infrastructure
(attached) that it has negotiated the A$750 million equity required for the development of rail and
port infrastructure in the mid west region of Western Australia.
Midwest and Yilgarn are parties to an Implementation Agreement to work together to progress the
development of the port and rail infrastructure.
The raising of the equity through five of China’s biggest and most successful companies, including
our joint venture partner Sinosteel Corporation, is most encouraging for the emerging iron ore
industry in the area.
“It signals the strategic interest of major Chinese companies in iron ore in W.A. and the growing
co-operation between Chinese and Australian companies. Today’s announcement also confirms
China’s appetite for investment opportunities in W.A.”, commented Mr Bryan Oliver, chief executive
The company is delighted to be associated with a group of this calibre which has the capacity to
expedite the infrastructure required to capitalise on the massive opportunities in the iron ore
industry in the region.
20th August 2007
For further information;
Bryan Oliver Chris Codrington
Chief Executive Officer Director
Midwest Corporation Ltd The NCS Group Pty Ltd
08 9226 2033 08 9486 7188 / 0412 911 107