In­ter­est in port sale

Central and North Burnett Times - - NATIONAL & WORLD NEWS - Rae Wil­son APN Newsdesk

THE head of Queens­land’s chief in­vest­ment body would con­sider bid­ding for the Glad­stone Port and Sunwater if the govern­ment-owned as­sets were put up for sale.

Queens­land In­vest­ment Cor­po­ra­tion chief Damien Fraw­ley said he would also con­sider the Su­rat Basin rail line if coal prices rose again and was al­ready look­ing at other re­source-re­lated as­sets.

Elec­tric­ity com­pa­nies could be in QIC’s sights too with Mr Fraw­ley not­ing pri­vati­sa­tion could ac­tu­ally be bet­ter for con­sumers in the long run.

He said re­search showed pri­vately owned dis­tri­bu­tion com­pa­nies had in­creased con­sumer prices by 2.4% a year on aver­age since 2007, which was less than the 10.1% in­crease of govern­ment-owned com­pa­nies over the same pe­riod.

QIC – which runs shop­ping cen­tres all over the world in­clud­ing in Noosa, Toowoomba and on the Gold Coast – has been look­ing to as­set pur­chases as a way of di­ver­si­fy­ing in­vest­ment for its 90 clients world­wide. Mr Fraw­ley said QIC was a strong as­set buyer, but only af­ter as­sess­ing whether an as­set suited the cor­po­ra­tion’s port­fo­lio.

“We are and have bid and ac­quired as­sets that were owned by govern­ment,” Mr Fraw­ley said.

“Like ev­ery as­set that comes on the mar­ket, we’ll look at them case by case, en­sure the right due dili­gence, make sure it makes sense for the buyer and the client.”

When asked specif­i­cally about the Glad­stone Port and SunWater if the LNP gets the green light for

Damien Fraw­ley Like ev­ery as­set that comes on the mar­ket, we’ll look at them case by case.

as­set sales at the next elec­tion, Mr Fraw­ley said: “We’d con­sider them, ab­so­lutely”.

“We’re just like any other in­fra­struc­ture manger; we’ll as­sess them on their merit and ap­ply for the ones we re­ally want and bid for the ones we want,” he said. “In­fra­struc­ture that re­sides around re­sources and the re­sources sec­tor is some­thing we have looked at and we’ve bid on a cou­ple of times,” he said of the Su­rat Bain rail line.

Mr Fraw­ley said the pri­vati­sa­tion of Port Botany and Port Kem­bla in NSW, which de­liv­ered $5.07 bil­lion to the NSW govern­ment, was rein­vested in in­fra­struc­ture projects such as the planned West Con­nex mo­tor­way.

He said NSW res­i­dents could “touch and feel” the re­sult of those as­set sales .

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