Australia’s competition regulator has granted Graincorp Limited’s (ASX:GNC) Carrington bulk grain facility at the Port of Newcastle an exemption.
The grain handler requested the exemption to secure lower levels of regulation for more flexibility so it can become more competitive.
Graincorp has welcomed the Australian Competition and Consumer Commission’s (ACCC) decision which is geared to creating a more level playing field.
The company has also flagged plans to seek the exemption of its other terminals where possible and according to the regulator’s exemption process.
Graincorp reported a net profit of $50 million in the first half of the 2014 financial year.
