Port of Melbourne to be privatised after bill passes Parliament

The Port of Melbourne will be in a sale expected to fetch $6 billion for infrastructure after legislation to lease the country’s biggest container terminal passed the Victorian Parliament.

The Government hopes to use the proceeds to fund the removal of 50 railway level crossings over two terms, with regional areas to benefit from up to $700 million in transport infrastructure funding.

The lease transaction’s financial advisers will soon call for expressions of interest from bidders, with the Port of Melbourne poised to be privatised by the end of the year.

More at the Australian Broadcasting Commission