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2012 July 31   15:14

Port Botany privatisation gets go-ahead

The removal of the Port Botany container cap is imminent after a state government pre-sale scoping study recommended lifting the cap to maximise the sale of the port's 99-year lease, reported Southern Courier.

NSW Treasurer Mike Baird said the plans for the multi-billion dollar privatisation of Port Botany and Port Kembla shipping facilities would go ahead with transactions expected to start late 2012.

He said the Port Botany container cap ``needs to be removed in the short to medium term to ensure that the use of the port is not artificially restricted''.

``On current estimates, Port Botany is likely to reach the cap by approximately 2017, many years earlier than originally anticipated,'' he said.

Baird said there was extensive consultation undertaken as part of the scoping study and advisers will now be consulting with the community.

Botany Bay Mayor Ron Hoenig said it was expected the state government would try to remove the cap.

``The state government has to address the affect the removal of the cap would have on transport, if they don't this part of the city will come to a grinding halt,'' he said.

If the 3.2 million container cap is lifted it's expected the port could move 7.5 million containers a year.

Baird said: ``We are facing an immense challenge to fund the backlog of critical infrastructure across NSW and more needs to be done to free-up the vital funds needed to deliver long overdue road, school and hospital projects.''

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