Friday, July 12, 2013

Port Botany and Port Kembla Lease Finalised

NSW Treasurer Mike Baird today announced the long-term lease of Port Botany and Port Kembla has been completed, following the Government's acceptance of a $5.07 billion binding offer from NSW Ports.
The 99-year leases of State-owned Port Kembla and Port Botany, including the Enfield and Cooks River logistics centres, will commence tomorrow.
Mr Baird said the transaction delivered net proceeds of around $4 billion to be invested in the NSW Government's infrastructure fund, Restart NSW.
"This is a tremendous outcome for the people of NSW, who will directly benefit from the delivery of critically needed infrastructure right around the State," Mr Baird said.
"The proceeds from this transaction will now allow the Government to go ahead with transformative projects such as the WestConnex motorway, the largest urban transport project in NSW history

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