IFM INTERESTED IN NEWCASTLE PORT (IMPORT & EXPORT)
Friday, June 28, 2013
IFM interested in Newcastle port (Import & Export) After the New South Wales (NSW) government said in its budget that it plans to sell the port at Newcastle next year, Australia's largest infrastructure investor, Industry Funds Management (IFM) said it would consider bidding for the giant coal port, according to The Australian. A purchase of the Newcastle port would add to IFM's purchase of Port Botany and Port Kembla, which it bought as part of a consortium for $5.7 billion. In delivering his state's budget, NSW Treasurer Mike Baird said the state would seek $700 million from the Newcastle sale to fund infrastructure investments. "We are Australia's biggest infrastructure investor and it fits the characteristics of infrastructure that we are interested in investing in," IFM chief executive Brett Himbury told The Australian.
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