Qld government announces privatisation preparations ...

Excerpt from the Courier Mail:

Bligh announces water takeover

4 September 2007

Deputy premier Anna Bligh has told State Parliament today how the government will take over control of the south-east's water resources.

Ms Bligh said dams and weirs would by owned by a single state-run bulk supply entity by July 1, 2008.

In principal agreement from Brisbane City Council meant the first assets would be transferred to state ownership by January.

A separate entity would take ownership of "manufactured" water, such as the Gold Coast desalination plant and Western Corridor Water Recycling Scheme, when they were completed.

Major water transport infrastructure would come under another entity, and a "water grid manager" would be established to take care of the state's water flow.

By July 2010 or earlier, retail activities will be split from distribution.

There are now 23 bulk water supply and treatment entities, and 17 retail bodies owned by 25 separate entities in the state.
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See - Step 1 of privatisation is corporatisation.