What impact #sealevelrise on Melbourne’s privatised port facilities? asks @takvera

The Andrews Victorian state government has been successful with the sale of the Port of Melbourne for $9.7 billion, an election promise. The government had been expecting around $7 billion for the asset. Technically, its not a sale, but a 50 year lease of the port’s commercial operations. The long term lease of Australia’s largest port facilities had bipartisan support, with the State Liberal Party, when in power, doing much of the initial paperwork to bring about the privatisation. The new owners of the Port of Melbourne are the Lonsdale consortium which includes the Queensland Investment Corporation, the Future Fund, GIP and OMERS. This is another public asset sale deriving […]