The Queensland state government said today it is discussing with a group of coal firms a raised bid for its coal rail network but has not discarded plans to float the $6.98 billion operation.

At present, 11 coal mining companies and a rail operator have raised their offer for QR National's track network owned by the state from $4.85 billion to $5.1 billion.

While the government has been firm about continuing with a float of QR National's tracks and trains together, a difficult market for initial public offerings made it seemed more willing to consider an alternative plan.

"We have been in discussions with the group of companies since then, and those discussions continue," state treasurer Andrew Fraser said in a statement to Reuters.

"The government is not going to comment on ongoing commercial negotiations other than to say that the government is determined to secure the best deal for taxpayers and the long term interests of the Queensland economy."

Queensland Premier Anna Bligh said the sale was aimed for what was best for Queensland.

She said the government is in the middle of intense and complex commercial discussions with these coal companies.

"It's not helpful for me to be commenting on that on a daily basis and I don't intend to. Other than to say, we are of course taking them seriously, respectfully and working through issues with them.

"We won't be rushing anything ... we will be making a decision in the interests of Queensland taxpayers," she said.