Victoria approves Freight Australia sale

<p>The Victorian Government has today (Monday, August 16) approved the sale of Freight Australia to rival Pacific National.</p> <p>The decision follows Australian Competition and Consumer Commission (ACCC) approval in July and means the long-anticipated deal can now go ahead.</p> <p>Pacific National has agreed to a number of conditions associated with the 45-year regional track lease that is included as part of the sale.</p> <p>They are designed to ensure greater on-rail competition in Victoria and reassure competitors on the questions such as regional freight terminal access.</p> <p>The conditions include:</p> <p>&#8226 An agreement that Pacific National will make 50,000 containers a year for the next three years available at the Dynon Terminal for third party competition</p> <p>&#8226 A guarantee on lease security for regional freight terminal operators and</p> <p>&#8226 Physical access to rail reservations for Victorian Roads and utility companies.</p> <p>The government and Pacific National will also develop a masterplan to enable cooperative investment. </p> <br />