The Port of Newcastle should have a new owner early next year, according to the CEO of Ports Australia, David Anderson.
“I would say if you take recent privatisation of Port Botany and Port Kembla as an example you might see a 9 month time frame.”
David Anderson told members of the Hunter Business Chamber today that Australian ports have previously been leased by superannuation funds and specialist infrastructure investors.
“These groups in the main are in it for the long term and we should take some comfort from that – what they’re looking for is a steady return for their investors who by the way are mum and dad investors in superannuation funds.”
The New South Wales government announced its privatisation plans in June, with a 99 year lease of the port worth about $700-million.
