Monday, 1 August 2011

Queensland government sells toll company to itself

The Queensland government has transferred its own state owned company, Queensland Motorways Ltd, to the government owned Queensland Investment Corporation according to the Herald Sun. It is considered an “asset sale” by effectively having the state government’s investment arm buy the company from the state government. The price was A$3 billion (US$3.3 billion). Queensland Motorways owns two major toll motorways (Gateway and Logan motorways) in the state and has run them commercially since its inception. The Logan Motorway is effectively a west-east bypass to the south of Brisbane, whereas the Gateway Motorway is a north-south bypass running to the east of Brisbane.

No comments:

Post a Comment