Australia to vet infrastructure investment for geopolitical risks

by Dramelin 9:00 PM 0 comments

SYDNEY Australia will weigh long-term geopolitical considerations when it vets proposals by foreigners to buy critical infrastructure assets such as power grids and ports, the government said on Tuesday.
The government said telecommunications, electricity, water and ports assets were the most sensitive to national security risks.
Last month, the Australia announced the creation of a new critical infrastructure center to oversee sensitive assets.
Australia last year rejected bids from state-owned State Grid Corp of China [STGRD.
UL] and publicly listed Hong Kong group Cheung Kong Infrastructure Holdings Ltd (CKI) for a large power grid, Ausgrid, citing unspecified national security concerns.
The government is now considering whether to approve a separate $5.
5 billion bid from a consortium led by CKI for listed power grid and gas pipeline owner DUET Group.