The Lonsdale Consortium has signed a lease of Australia’s Port of Melbourne commercial operations for a term of 50 years.
The lease, worth more than $9.7 billion, reflects strong bidder interest and the port’s value, as the biggest container and cargo port in the country. Ten per cent of lease proceeds will be invested in regional and rural infrastructure projects, totalling more than $970 million. A new $200 million Agriculture Infrastructure and Jobs Fund has also been established to drive economic growth in our regions, boost exports and support Victorian farmers from paddock to port.
Each member of the consortium is a highly experienced asset owner who will ensure the ongoing operational integrity of the Port of Melbourne. Lonsdale will also bring greater access to capital to ensure the ongoing development of the Port of Melbourne, further enhancing Victoria’s reputation as the leading port in Australia.
The State will retain responsibility for the Harbour Master, Station Pier, relevant safety and environmental regulation, waterside emergency management and marine pollution response. During the lease term, Lonsdale will maintain access to public walkways and bike paths for community use. Commercial and recreational vessels’ access will not be affected by the lease, with the port being returned to public hands at the end of the lease.
Premier Daniel Andrews said,
“This is a $9.7 billion vote of confidence in the Victorian economy.”
“We promised to lease the port, get rid of Victoria’s most deadly and congested level crossings and create thousands of jobs, and that’s exactly what we are doing.”
Treasurer Tim Pallas said,
“The strength of this result underlines the continued high performance of the Victorian economy – the fastest
growing in the country.”“Leasing the port reinforces Victoria’s position as the freight and logistics capital of Australia and will make a
great port even better.”
Minister for Ports and Acting Minister for Regional Development Luke Donnellan said,
“Through this lease, we are supporting our State’s vibrant regional communities, putting infrastructure and
agriculture back at the heart of Victoria’s economic development.”
Chairman Port of Melbourne Corporation Mark Birrell added,
“This is a great result for Australia’s largest maritime trade hub and reflects the port’s vital role in the State and
national economies.”
Source: Port of Melbourne
