On 13 December 2012, Moorebank Intermodal Company Limited (MIC) was established to facilitate the development of an intermodal terminal at Moorebank in Sydney's south-west.
MIC is a Government Business Enterprise, incorporated under the Commonwealth Corporations Act 2001 (Cth), and operates under the Public Governance, Performance and Accountability Act 2013 (Cth). The organisation is a wholly owned Australian Government company represented by two shareholder ministers: the Minister for Infrastructure and Transport (being the Responsible Minister) , the Hon. Darren Chester MP, and the Minister for Finance, Senator the Hon. Mathias Corman. MIC operates at arm's-length from Government and with a commercial focus. This has given MIC the flexibility to work with the operators and other partners, particularly during procurement of the terminal, to maximise the opportunities for private sector involvement and innovation at the terminal.
MIC's objectives for the Moorebank intermodal freight precinct are to:
- to facilitate the development of an intermodal freight terminal at Moorebank, including an IMEX facility, an interstate freight terminal capable of catering for 1,800 metre trains and ancillary facilities, by optimising private sector investment and innovation in the development, construction and operation of the intermodal terminal;
- to facilitate the operation of a flexible and commercially viable common user facility that shall be available on reasonably comparable terms to all rail operators and other terminal users;
- to ensure the intermodal terminal operates with the aim of improving national productivity through an efficient supply chain, increased freight capacity and better rail utilisation;
- to operate on commercially sound principles, having regard to the Australian Government’s long-term intention to sell its interest in the company;
- upon notification by the Commonwealth shareholder, provide assistance as required to facilitate a sale of the Commonwealth’s interest in the company; and
- to do all things that are necessary, convenient or incidental to carrying out or for the attainment of these objectives.
In achieving these objectives, the Commonwealth tasked MIC maximising private sector involvement and innovation at the terminal. After a competitive process, MIC entered agreements with Sydney Intermodal Terminal Alliance development (SIMTA) in June 2015, under which SIMTA will build and operate an intermodal freight precinct at Moorebank. MIC will oversee development of the Moorebank freight precinct to make sure SIMTA delivers the core components of the precinct infrastructure to the required standards. During operations, MIC's main role will be to monitor SIMTA's compliance with its obligation to provide access to the IMEX and interstate terminals on an open and non-discriminatory basis.