The Australian Competition and Consumer Commission has announced it has decided to grant interim authorisation to a joint venture company between GrainCorp and the Australian Wheat Board (AWB) to provide transport and logistics services to the companies in Queensland, New South Wales and Victoria for export bound grain.
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GrainCorp and AWB have said the purpose of forming the joint venture company is to improve efficiencies and to achieve logistics cost savings for grain exports through improved coordination of export grain storage and transport activities and increased information to facilitate the export grain task.
Interim authorisation allows the companies to engage in the venture prior to the ACCC’s formal consideration of the application. The ACCC stressed its interim authorisation decision should not be taken to be indicative of whether or not final authorisation will be granted.
The ACCC said it had decided to grant interim authorisation given the size and proximity of the upcoming harvest and the need for improved coordination between the two companies and the rail transport providers in managing the harvest and export task.
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By GlobalData
