THE latest development in the Moorebank freight terminal saga — which has continued for more than eight years — is the establishment of a government business enterprise to facilitate private sector development of the terminal.
The Moorebank Intermodal Company was set up in late December (2012) by the federal government to ease the transition from federal government operation to private ownership.
Once the project is operating successfully and subject to market demands, the government expects to fully privatise the facility.
Infrastructure and Transport Minister Anthony Albanese said the freight terminal was a nationally significant project and it was important a board with strong commercial skills and experience be appointed to drive it forward.
"This project could potentially transform the movement of freight along the east coast," he said.
"It's forecast that once up and running, the freight terminal could remove up to 1.2 million trucks each year from Sydney's roads — that's equivalent to 3300 trucks a day.
"With container freight in Sydney set to more than triple by 2030 and the city's road network already heavily congested, the project represents a welcome relief for residents and businesses."
The federal government anticipates the company will be operational by the end of this month.