Port of Melbourne leased for A$9.7bn

For fresh fruit and vegetable marketing and distribution in Asia
Gabrielle Easter

BY GABRIELLE EASTER

@gab_produceplus

Port of Melbourne leased for A$9.7bn

Victorian government has announced a 50-year lease of Melbourne Port to the Lonsdale consortium

Port of Melbourne leased for A$9.7bn

Photo courtesy of Port of Melbourne Corporation

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The Victorian government has leased Australia’s Port of Melbourne to a consortium of local and international investors for a record A$9.7bn.

The Lonsdale consortium, comprising the Future Fund, Queensland Investment Corporation, Global Infrastructure Partners and Canadian pension fund Omers, signed a 50-year lease of the port.

“The strength of this result underlines the continued high performance of the Victorian economy – the fastest growing in the country,” said Victorian treasurer Tim Pallas. “Leasing the port reinforces Victoria’s position as the freight and logistics capital of Australia and will make a great port even better.”

The 50-year lease of the Australia’s biggest containers and cargo port will see A$970m invested in regional and rural infrastructure, and A$200m investing in a new Agriculture Infrastructure and Jobs Fund to boost exports and support Victorian farmers.

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