Genesee & Wyoming Inc (GWI) has signed a deal to acquire all assets of Australia-based rail company FreightLink for more than A$334m ($277.2m).

The US-based company said it intends to close the acquisition and commence operations in the fourth quarter of 2010.

FreightLink will be managed as part of Genesee & Wyoming Australia, which currently operates more than 5,000km of track in South Australia, including the 2,253km line between Adelaide and Darwin.

GWI owns and operates short line and regional freight railroads in the US, Canada, Australia and the Netherlands.