Treasurer Tim Pallas today launched the formal transaction process for the 50-year lease of the Port of Melbourne.
Lease proceeds will allow the Andrews Labor Government to get on with removing 50 of our worst level crossings, creating thousands of jobs, and building key infrastructure initiatives in our cities and regions.
A new $200 million Agriculture Infrastructure and Jobs Fund will also be established, as part of the Labor Government’s significant focus on rural and regional Victoria.
This will drive economic growth in our regions, boosting exports and supporting Victorian farmers from paddock to port.
Expressions of Interest for the 50-year lease is the first step in shortlisting qualified parties, who will be invited to submit final proposals for the Port.
The Government expects to announce a preferred leaseholder before the end of 2016.
The Delivering Victorian Infrastructure (Port of Melbourne Lease Transaction) Bill 2015, was passed by the Victorian Parliament on 10 March 2016.
The deadline for lodging responses to the Victorian Government’s Request for Expressions of Interest is 10.00 am on Monday 18 April 2016 (AEST).
Morgan Stanley and Flagstaff Partners are the State’s Financial Advisers for the Port of Melbourne lease transaction.
Quotes attributable to Treasurer Tim Pallas
“The Andrews Labor Government is getting on with leasing the Port of Melbourne and using the proceeds to build key infrastructure across the State and create jobs.”
“The lease will make our port even better, increasing efficiencies and competitiveness, and will reinforce Victoria’s position as the freight and logistics capital of the nation.”
“We’re moving to market quickly because of the strong bidder interest in the Port of Melbourne and we’re confident the lease will deliver significant, long-term economic benefit to Victorians.”
Reviewed 19 August 2020