NT government in negotiations to retain 20% stake in Darwin port.

The Northern Territory Government has confirmed it is in negotiations to try to keep a 20 per cent stake in Darwin’s Port.
The former Country Liberals government controversially leased the port for 99 years to Chinese company Landbridge.
One condition of the deal was that Landbridge find an Australian company to take a 20 per cent stake in the port within five years.
But so far no deal has been made, and now the NT Government is considering holding onto its share.
“The [Government] is considering retaining its 20 per cent interest in Port subject to satisfactory commercial negotiations with Landbridge,” it said in a statement.
The Landbridge deal prompted then-US president Barrack Obama to ask for a “heads up” and forced Prime Minister Malcolm Turnbull to play down the concerns.
Mr Obama reportedly read about the deal in the New York Times, prompting Mr Turnbull to suggest he subscribe to the NT News.
The privatisation of the port was one of a number of controversial decisions made by the former CLP government and was not taken to voters at the 2012 election.
The sale of the port to Landbridge was also the subject of controversy when it was announced former federal Liberal trade minister Andrew Robb had joined the company in 2016, raising concerns about potential conflicts of interest.

Source: http://mobile.abc.net.au/news/2017-04-18/nt-government-negotiations-underway-to-retain-stake-darwin-port/8451786?pfmredir=sm

One Comment Add yours

  1. Lyn says:

    Andrew Robb’s role as Trade Minister signing FTAs with China, his role in the loss of control of a strategic port asset to a country setting up businesses in the NT to feed its own people and the fact is is now employed by that government while taking is parliamentary retirement package makes a mockery of his role as minister!!! He should be ignored here and his parliamentary package and super beyond the grave should be stopped immediately and he should be ignored in any negotiations here. As a senior member his department said when asked why the Chinese were allowed to buy rights to the Darwin port for 99 years “ha ha they cannot take the port with them!!”.


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