The NSW Government has confirmed it will proceed with the long-term lease of Port Botany and Port Kembla – leveraging their value to fund priority infrastructure projects.
Based on a scoping study, the Government has committed itself to proceeding with a long-term lease of both assets.
The Port Botany precinct – as well as the Enfield and Cooks River logistic sites – will be offered under a 99-year lease.
Port Kembla will also be issued to market for a 99-year lease.
Proceeds from the transaction will be invested in the State’s infrastructure fund, Restart NSW, with $100 million set aside in a dedicated line for infrastructure projects in the Illawarra.
The Property Council has consistently called for the State Government to release capital tied up in state assets for use on priority infrastructure projects.
See the Government’s media release attachment.