The Labor Government announced yesterday that it had leased the Port of Melbourne, the country’s biggest container and cargo port, for more than $9.7 billion.
The Lonsdale Consortium, comprising of the Future Fund, QIC, GIP and OMERS signed a lease of the port’s commercial operations for a term of 50 years.
On matters of immediate concern and interest to Port Places, the State will retain responsibility for Station Pier, the Harbour Master, relevant safety and environmental regulation, waterside emergency management and marine pollution response.
During the 50 year lease term, Lonsdale will maintain access to public walkways and bike paths for community use.