Ausgrid sale to Chinese, Hong Kong bidders blocked

The Federal Government says its initial decision to block the lease of the New South Wales electricity network to Chinese buyers is not based on race nor politics.

Ausgrid Depot, Ourimbah NSW Source: AAP

 

Treasurer Scott Morrison has rejected bids from China's State Grid and Hong Kong-listed Cheung Kong Infrastructure for a lease on over half of Ausgrid on national-security concerns.

He says Ausgrid provides critical power and communications services and, at this stage, no suitable mitigations have been identified that would address the risks.