Aussie State Plans $500M Port Lease To Fund Infrastructure

Law360, New York (June 12, 2012, 6:58 PM EDT) -- New South Wales unveiled a plan Tuesday to privatize the operation of one of its biggest ports, a move that could potentially contribute AU$500 million (US$496.2 million) to the Australian state's four-year, AU$61.8 billion initiative to upgrade its infrastructure, officials said.

As part of the state's proposed 2012-13 budget, which was made public Tuesday, New South Wales Treasurer Mike Baird and Ports Minister Duncan Gay announced the inclusion of Port Kembla, one of the state's three major ports, in a scoping study to feel out private-sector...
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