Treasurer rejects coal rail offer

Private equity company World Equity has attempted to trump a bid by a consortium of major mining firms to buy central Queensland's coal rail track network.

QUEENSLAND Treasurer Andrew Fraser says a fresh offer to buy the state's coal network is not credible.

Private equity company World Equity has attempted to trump a bid by a consortium of major mining firms to buy central Queensland's coal rail track network.

The $6.5 billion offer, which was well above that reportedly proposed by the mining consortium, was contingent on the new entity QR National opening its books so the equity company could undertake due diligence.

A spokeswoman for Mr Fraser told AAP on Monday the World Equity offer was communicated via email last week.

"It was not a bid and not backed by traditional detailed bidder information - it cannot be considered to form a credible proposal," the spokeswoman said.

The government plans to float QR National by December.

The spokeswoman said preparatory work for the float "continues unchanged".

World Equity chairman Nir Turner told the Sydney Morning Herald last week the funding to buy QR National was "ready to go".

"We're very serious and committed about this," he said.