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MENAFN - 06/02/2014

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(MENAFN) Three investment groups, two of which involves Gulf government-owned funds, plan to bid for Australian state-owned toll road company Queensland Motorways Ltd on Friday, Arabian Business reported.

The sale is estimated by analysts to be for around USD4.5 billion, and is expected to push the country's state governments to sell off large infrastructure assets to pay for capital works programs.

State governments in Australia have been reluctant to sell off infrastructure, but recently that changed following the state of New South Wales selling its desalination plant for USD2.3 billion.

A partner at law firm Corrs Chambers Wesgarth said: ""the proceeds of divestment will be plowed back into new infrastructure, which then, once it is operating, those assets will be divested."

 






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