Australia selling Port Kembla
Australia's New South Wales government has officially announced the privatisation for Port Kembla and Port Botany with an estimated price tag of more than A$2bn, Seatrade Asia online reports.
Local media reports said consortiums involving a number of international and local infrastructure funds are running for the two ports. Some of the consortiums include QIC, Canada Pension Plan Investment Board, Hastings Funds Management, Ontario Teachers Pension Plan, Global Infrastructure Partners, and Citi Infrastructure.
The port facilities will be leased for 99 years in order to fund major infrastructure projects around the state.
“Port Kembla certainly has long term opportunities and we think bringing in a long term operator with additional capital can both bring forward investments,” said Mike Baird, treasurer for NSW state.