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Response to ACCC proceedings

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RESPONSE TO ACCC PROCEEDINGS

NSW Ports notes the ACCC announcement that it has instituted proceedings in the Federal Court in relation to the 2013 Port Commitment Deeds.

NSW Ports firmly believes that the agreements (including provisions of the 2013 Port Commitment Deeds) signed with the NSW Government, to lease its assets at Port Botany and Port Kembla, operate in the best interests of all stakeholders, the economy and people of NSW.

Having paid a consideration of $5.1 billion to the NSW Government in 2013 based on the full contractual terms contained in the agreements, NSW Ports will be vigorously defending the proceedings.

NSW Ports is 80 percent owned by Australian superannuation funds investing on behalf of more than six million individual Australians.  The success of Port Botany and Port Kembla is in the national interest.

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Media queries to Paul Matthews 0458 566 179 or paul.matthews@nswports.com.au

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