2011 has been an important year for the company – we started the year as WestNet Rail and now close it out as Brookfield Rail.

This is an exciting time as we embark on a new phase of growth under our new brand, which recognises our connection to Brookfield Infrastructure, one of the world’s leading infrastructure groups. That connection provides us with the financial strength and stability to invest in and grow our network for the future.

A decade ago there was 30 million tonnes per annum (mtpa) transported on the rail network, and today we are transporting over 55 mtpa, with a value close to $20 billion.

We are seeing an increasing demand for open access, multi-user rail infrastructure from resource projects in Western Australia’s (WA) South West, MidWest and Yilgarn regions, along with significant projected increases in inter-state freight volumes.

Through this increase in demand, freight volumes on Brookfield Rail’s network are expected to increase by approximately 45 per cent, to over 80 mtpa within the next two years.

Recently we have finalised Commercial Track Access Agreements with new customers; we have had new customers begin operations; and we have enabled the expansion of existing projects.

Work has commenced on our MidWest Rail Upgrade, which will see 200km of the existing rail network from Morawa through to Geraldton upgraded to significantly increase capacity to support the MidWest iron ore province. To date, on 95km section of track from Narngulu to Mullewa, we have laid 67,030 concrete sleepers, 39.52km of rail and dropped 94,829 tonnes of ballast.

This upgrade represents a major strategic investment by Brookfield Rail in the region and will play a vital role in enabling development, growth and long term sustainability in the MidWest region of WA.

We continued our strong focus on developing positive and lasting relationships with the communities within which we operate, through involvement at events, in-kind contributions, donation of materials and infrastructure and provision of financial assistance to a range of local initiatives.

Of significant importance is the establishment of a corporate partnership with the Community Development Foundation, with Brookfield Rail providing an $80,000 grant to implement their Passport Program in four schools in regional WA. The Passport Program encourages parents and children to engage with the school community through an incentive scheme, and is already the seeing positive results and community support and participation after being implemented at Mullewa District High School.