Trending: Rio Tinto Plans A$150 Million Investment in Pilbara-Made Rail Cars
June 13 2023 - 12:40AM
Dow Jones News
0409 GMT - Rio Tinto is one of the most mentioned companies in
the news over the past four hours, according to Factiva data, after
it announced an investment that will replace existing rail cars
with ones made in the Pilbara region of Western Australia. Rio
Tinto says it will invest in a partnership with Gemco Rail to
purchase 100 rail cars over six years with an investment of 150
million Australian dollars (US$101.2 million). The first rail car
is slated to be delivered in 2024 from a facility in Forrestfield,
WA. The investment is part of Rio Tinto's efforts to support
domestic manufacturing. Gemco Rail is a subsidiary of
Australia-listed Engenco. Dow Jones & Co. owns Factiva.
(jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
June 13, 2023 00:25 ET (04:25 GMT)
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