GrainCorp : welcomes funding for sidings

To: MEDIA RELEASE

29 April 2016

Victorian rail investment to benefit entire industry

GrainCorp warmly welcomes the Victorian government's announcement of $8.5 million to upgrade State-owned rail sidings at major grain silos around the State.

GrainCorp's Regional Manager for Victoria, Peter Johnston, said the investment would deliver significant benefits across an important regional industry.

"The Victorian government's investment complements GrainCorp's own investment of up to

$80 million across key sites on the Victorian rail network. These upgrades will deliver improved rail efficiency for the users of GrainCorp's open network and reduce costs," Mr Johnston said.

"The primary beneficiaries of this investment are Victoria's grain growers, as greater rail efficiency will unlock at least $5 per tonne that goes into their pockets through sharper prices for their grain.

"The many customers using our network will also benefit from significantly improved rail efficiency, allowing them to get Victoria's crop to its destination as quickly and efficiently as possible.

"Local communities will see a major reduction in heavy vehicle movements as around half a million tonnes of grain each year is returned to rail. This means less wear and tear on local roads and improved safety.

"Investment in the government-owned rail infrastructure is critical to GrainCorp's ability to deliver the benefits of our major Project Regeneration initiative. We are pleased to be able to partner with the Victorian government to deliver these outcomes and we congratulate them on their proactive approach and vision to grow one of Australia's most important industries."

"We hope the Federal government will deliver similar investment in ARTC infrastructure at Murtoa and Nhill," Mr Johnston said.

FOR FURTHER INFORMATION

Luke O'Donnell

Corporate Affairs Manager 0447 660 804

[e-mail]

GrainCorp Limited

T 02 9325 9100

F 02 9325 9180

ABN 60 057 186 035 graincorp.com.au