AustralAsia Rail Corporation

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The AustralAsia Railway Corporation was established in 1997 by the Government of the Northern Territory to build the Darwin - Alice Springs railway. 50% of its board positions and voting right are assigned to the South Australian Government. It owns some of the infrastructure of the Darwin - Alice Springs, Northern Territory railway and the lease of the Alice Springs - Tarcoola, South Australia railway from the Australian Government, and leases (or subleases) them to FreightLink. In 2000, it awarded the contract to build the Darwin - Alice Springs railway to the Asia Pacific Transport Consortium as a Build Own Operate and Transfer back operation.

The Australian Government contributed $165 million from the Centenary of Federation Fund, the Northern Territory Government contributed $165 million and the South Australian Government contributed $150 million to the AustralAsia Rail Corporation for the construction of assets by Asia Pacific Transport Consortium and FreightLink that were later leased for a peppercorn rental to FreightLink. In addition, the three Governments contributed about $26 million each, a total of $79 million in further funding to support the Asia Pacific Transport Consortium directly, by way of mezzanine debt financing (subordinated debt), equity and contingent equity.