SYDNEY: An Australian-led consortium with Chinese funding received a 50-year-rent Monday at the kingdom’s biggest field and cargo port for Aus$nine.7 billion ($7.3 billion), the state-of-the-art maritime asset to be privatized.
The Port of Melbourne, which deals with extra than three,000 ships yearly, changed into snapped up by means of a consortium
inclusive of Australia’s 2nd-largest wholesale funds supervisor the Queensland Investment Corporation (QIC) and multinational company Global Infrastructure Partners (GIP).
The Australian newspaper said that GIP changed into performing in part on behalf of China’s sovereign wealth fund CIC Capital, which it stated had effectively secured 20 percent of the port.
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