FIRB has fears for other power deals
The Federal Government's Foreign Investment Review Board (FIRB) has shifted its gaze to a new Chinese energy deal.
The state-owned Hydro Tasmania has been looking to sell a majority stake in its consultancy, Entura, in a joint-venture with two subsidiaries of PowerChina.
Entura deals in advice and designs for electricity assets across Australia.
Just days after the Federal Government’s preliminary decision to block the sale of Ausgrid in New South Wales, reports say the Entura deal will be examined by the FIRB too.
There are fears that bad press about the deal, whether it is successful or not, could damage the organisation’s reputation in the industry and with its customers.
Hydro Tasmania CEO Steve Davy issued a statement to the media saying Entura could not be compared with AusGrid.
“The AusGrid transaction is fundamentally different to the proposed Entura joint venture. The Entura proposal relates to consulting services,” he said.
“We're confident the proposed joint venture with PowerChina Huadong and HydroChina International will unlock new markets and project opportunities for Entura and its people.”