Tender for 50-year concession of Port of Melbourne received 3 bids

Port of MelbourneThe tender for 50-year concession of Port of Melbourne received 3 bids from local and international joint ventures. The important port concession is expected to bring into the Victorian state government 4.1 billion USD, but the process was battered during the last months from the politicians and public opponents. One of the bidders for concession of Australia’s largest container terminal is consortium between Australian bank Macquarie Group’s Macquarie Infrastructure and Real Assets fund, together with the domestic infrastructure fund IFM Investors and Dutch pension fund APG. Another bidder is joint venture between Australian fund QIC and Canada’s Borealis Infrastructure Trust. The third offer comes from consortium between Australian fund Hastings with Kuwait’s Wren House.

The bidders are mostly financial companies and institutions, which will outsource operations to shipping companies and operators, due to the lack of expertise. The deal is one of the most important for the economy and the new owner should improve infrastructure, maintain workforce and to modernize the port.

Port of Melbourne is Australia’s busiest port for containerised and general cargo. It is located in Melbourne, Victoria, and covers an area at the mouth of the Yarra River, downstream of Bolte Bridge. The prot has 30 berths and container capacity for 2.0 million TEU annually.