Politicians finally vote in favour of privatising Melbourne port

Politicians finally vote in favour of privatising Melbourne port

The long, drawn out path to privatising the Australian port of Melbourne finally looks on track.

The A$6bn ($4.48bn) plan has been passed today in the Victorian parliament. A 50-year lease has been granted.

The legislation was passed after months of negotiations between the major parties on what compensation should be paid to the new owners if a second port was built.

The port sale is likely to be pushed through this year.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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