The newly elected government of Australian Prime Minister Malcolm Turnbull is set for its first big test on foreign investment, with two Chinese companies bidding for control of the country’s largest electricity network. 

State Grid Corporation of China and Hong Kong-based Cheung Kong Infrastructure are expected on Monday to submit separate bids of more than A$10bn ($7.47bn) for a 50.4 per cent stake in Ausgrid in a privatisation that is unlikely to attract a local bidder. But the sale of the New South Wales electricity distribution company is drawing sharp criticism from independent politicians, who have gained influence in parliament following a knife-edge election on July 2. 

“State Grid is China’s biggest state-owned company. Any sale to a foreign government-owned company should raise significant national interest concerns,” said Nick Xenophon, a senator whose eponymous party is likely to win three seats in the upper house of parliament.