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Australia's Queensland Rail (QR) is partnering with Stockland Trust Management Ltd. and Kaplan Funds Management Pty Ltd. (KFM) to develop an intermodal facility in Moorebank, Australia.

The Queensland government-owned railroad will invest $30 million and retain a 10 percent interest in the venture; Stockland will own 60 percent and two entities managed by KFM each will retain a 15 percent interest.

A freight-rail and logistics service provider, QR plans to expand its intermodal freight business, an Australian market that's expected to double within 20 years. The facility will enable QR to access additional terminal capacity in New South Wales to serve increasing demand for containerized freight.

The parties plan to begin developing the terminal in early 2008 and start construction in three to five years pending freight demand.