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:
“Your letter of excuses has arrived. I receive the letter but do not admit the excuses except in courtesy, as when a man treads on your toes and begs your pardon—the pardon is granted, but the joint aches, especially if there is a corn upon it.”
—George Gordon Noel Byron (1788–1824)
“I will venture to affirm, that the three seasons wherein our corn has miscarried did no more contribute to our present misery, than one spoonful of water thrown upon a rat already drowned would contribute to his death; and that the present plentiful harvest, although it should be followed by a dozen ensuing, would no more restore us, than it would the rat aforesaid to put him near the fire, which might indeed warm his fur-coat, but never bring him back to life.”
—Jonathan Swift (1667–1745)