Joint Venture
One of the problems faced by Open Access is what is a fair price. Consider the Iron Ore minnow BC Iron which seeks access to the Forstescue railway. (Fortescue has declared itself to be an open access operator).
BC Iron and Fortescue agreed to set up a joint venture to operate both the BCI mine and the railway connection to the port. As the larger player, Fortescue will run the show. The joint venture gives BC Iron inside information as to how much the railway and port will cost, while Fortescue gains inside information about the mine.
Read more about this topic: Open Access (infrastructure)
Famous quotes containing the words joint and/or venture:
“No Government can be long secure without a formidable Opposition. It reduces their supporters to that tractable number which can be managed by the joint influences of fruition and hope. It offers vengeance to the discontented, and distinction to the ambitious; and employs the energies of aspiring spirits, who otherwise may prove traitors in a division or assassins in a debate.”
—Benjamin Disraeli (1804–1881)
“It is not quite safe to send out a venture in this kind, unless yourself go supercargo. Where a man goes, there he is; but the slightest virtue is immovable,—it is real estate, not personal; who would keep it, must consent to be bought and sold with it.”
—Henry David Thoreau (1817–1862)