Posted on 08/11/2016 6:02:33 AM PDT by Olog-hai
Australia announced on Thursday it plans to block Chinese bidders from leasing a major Sydney electricity grid on national security grounds.
Treasurer Scott Morrison said Chinese state-owned State Grid Corp. and Hong Kong-registered Cheung Kong Infrastructure Group had until next Thursday to respond to his preliminary view that their leasing a 50.4 percent stake in Ausgrid over 99 years would not be in the national interest.
The decision almost certainly sinks the deal for the New South Wales state-owned electricity network that would have earned more than 10 billion Australian dollars ($7.6 billion). The money would have been spent on Sydney rail and road infrastructure projects.
Morrison declined to detail the security issues raised by the deal. …
(Excerpt) Read more at hosted.ap.org ...
What did they expect after calling the Aussies “paper cats” last week.
I’d be cheering if they hadn’t destroyed the right to own firearms and have been caught infringing on the right to free speech at least a couple times in recent history. Still, good move economically.
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