Ports and Logistics
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.