Western Australia commits to local train manufacture

The Western Australian budget includes a record $5.7 billion investment in Perth’s METRONET rail services, including the first tranche of funding for local pasasenger train construction. The budget includes spending of $1.7 billion on rail projects in 2020-21 for the the Forrestfield-Airport Link and the Thornlie-Cockburn link now under construction. Three other rail line extensions…

Efficiency drive saps Orica profit

Explosives manufacturer Orica has outlined the short-term costs of an efficiency drive and investment programme which has been underway for several years. The Melbourne company has delayed its reporting of full year results by two weeks and told investors that underlying earnings before interest and tax (EBIT) would be ‘slightly above $600 million.’ Chief executive…