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DP World in $6bn Australian port sale standoff

Special laws to sell the Port of Melbourne will be introduced into the Australian Victoria Parliament after DP World initiated legal action to stall the sale of the port.

The Australian government expects to collect an estimated $5-$6 billion from the long-term lease of the port, and has promised to use the money to pay for key transport promises, including 50 level crossing removals in eight years, according to The Age.

DP World took action after a 750% rental increase was mooted for the port.

More at Port Technology

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