The Australian Competition and Consumer Commission will not oppose TNT Australia Pty Limited managing the port of Hastings, ACCC Chairman, Professor Allan Fels, said today.
The Victorian Government announced in June that that TNT Australia had won a 10-year contract to manage the port, on Westernport Bay, south-east of Melbourne. The ACCC was involved during bidding for the port's management to assess any competition issues.
"TNT Australia addressed ACCC's concerns by providing court-enforceable undertakings to prevent mis-use of market power and to preserve inter-port competition," Professor Fels said.
"The key points of the undertakings are:
- a provision for non-discriminatory access to the Hastings port to current and future users; and
- provision for notice of any intention to vertically integrate into the provision of other services at Hastings.
"The privatisation of publicly-owned infrastructure assets must be accompanied by appropriate safeguards to preserve and protect actual and potential competition," Professor Fels said. "The ACCC therefore had regard to the existing interests of all bidders."
The Section 87B undertakings will be available for public perusal.
The ACCC's involvement follows its work in the privatisation of the ports at Geelong and Portland in 1996. In each case it was invited by the Victorian Government to assess the competition consequences of the various bids.
Further information Professor Allan Fels, Chairman, pager (016) 373 536 Ms Lin Enright, Director, Public Relations (02) 6264 2808 (w) or (018) 632 526.