The Federal Government has announced the process of appointing a board for the Government Business Enterprise to oversee the private sector delivery of the new freight handling facility at Sydney’s Moorebank has begun and is expected to be completed by the end of this year.


Federal Minister for Finance, Senator Penny Wong, was joined by Transport Minister Anthony Albanese in announcing that executive search firm Hudson Global Resources has been selected for identifying suitable candidates for the position.      


“From the outset, we have been determined to put in place an experienced board made up of individuals with a strong commercial focus and capable of delivering the best financial and policy outcomes for both taxpayers and national economy,” Senator Wong said.


“This is an opportunity for the public and private sectors to work together to deliver a project which will boost national productivity, increase efficiencies for business, and ease congestion on Sydney's roads.”


From January 2013, the GBE will oversee the remediation of the site as well as manage the tender process to select the private sector company or consortium to design, build and operate the new facility.


Mr Albanese said the Detailed Business Case released earlier this year calculated that the Intermodal Terminal would generate $10 billion in economic benefits, take 1.2 million trucks a year off Sydney's roads and inject $135 million into the economy of Western Sydney annually.


“Over the longer term, this facility has the potential to transform the movement of freight along the entire east coast,” Mr Albanese said.


“Already there has been strong private sector interest in building and operating this vital piece of new infrastructure, with some 40 major domestic and international freight and logistics companies attending market briefing sessions in recent months.”


Subject to planning and environmental approvals, the new Moorebank Intermodal Terminal is expected to open for business in 2017.