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.