Transurban submits bid for WestConnex
Toll road giant Transurban has bid for the 51 per cent of the new WestConnex motorway being sold by the NSW government.
The ASX-listed company says it is confident of securing all regulatory approvals and has been in talks with the competition watchdog, which in May raised concerns that Transurban's dominance in NSW - through stakes in other major tollroads - could stymie competition in the sector.
The NSW government said last week it was pushing ahead with its timeline for the sale of WestConnex despite the ACCC declaring it needed more time to assess the proposed privatisation.
Transurban's bid needs approval from the ACC and the Foreign Investment Review Board and chief executive Scott Charlton said the company would work "constructively and collaboratively" with both agencies.
"Transurban is an experienced owner operator with capabilities in a range of areas that lead to better outcomes for drivers on our roads," he said in a statement on Monday.
Once completed, WestConnex will be a 33-kilometre route of interconnected motorways and upgrades that could enable motorists to travel about 50 kilometres from Sydney's west to the edge of the CBD without traffic lights.
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