Port Botany in $2.3bn lease deal
Australia's Port Botany will be leased to a private operator for A$2.2bn ($2.3bn) to raise funds for the New South Wales (NSW) government's infrastructure development projects, Seatradeasia Online reports.
Currently operated by Sydney Ports Corporation, Port Botany's assets include three container terminals, six container vessel berths and a bulk liquids berth.
The leasing of Australia's second biggest container port will raise funds to develop new railways and roads and for hospital upgrades.
“Having the private sector acquire a long-term lease to operate Port Botany will improve efficiencies and enable the NSW government to invest in priority infrastructure, both of which will enhance ongoing productivity,’’ said Mike Baird, NSW state treasurer.
The 99-year lease deal is expected to be completed in the first-half of 2013.
Currently operated by Sydney Ports Corporation, Port Botany's assets include three container terminals, six container vessel berths and a bulk liquids berth.
The leasing of Australia's second biggest container port will raise funds to develop new railways and roads and for hospital upgrades.
“Having the private sector acquire a long-term lease to operate Port Botany will improve efficiencies and enable the NSW government to invest in priority infrastructure, both of which will enhance ongoing productivity,’’ said Mike Baird, NSW state treasurer.
The 99-year lease deal is expected to be completed in the first-half of 2013.