NSW hires Morgan Stanley for Newcastle port
The state of New South Wales in Australia has recently hired Morgan Stanley for studying the commercial sale of Newcastle port.
Morgan Stanley will review the financial planning for the lease of the Port of Newcastle. The bank will be tasked with finding a buyer if it recommends a lease as the best way forward.
Law firm Minter Ellison and accounting firm PwC have also been retained by NSW government after advising on earlier privatizations.
New South Wales treasurer Mike Baird announced plans for a 99-year lease of the port in his budget statement in June 2013.
Within Newcastle port's precincts sit three coal terminals owned and operated by Port Waratah Coal Services and Newcastle Coal Infrastructure Group. In 2012, Newcastle port's three terminals together shipped around 132.5 million mt of coal - 105.8 million mt for PWCS and 26.7 million mt for NCIG.
Country news
-
-
July 12, 2013
Moorebank Intermodal Company appoints Ian Hunt as new CEO
Australia deputy Prime Minister and Minister for Infrastructure and Transport, Anthony Albanese, and Minister for Finance and Deregulation, Senator Penny Wong, announced on July 9th, 2013, the appointment of Ian Hunt as the new Chief Executive Officer of the Moorebank Intermodal Company following an international executive search. Read more -
July 15, 2013
Plenary opens RAAF accommodation project
Plenary Group and Compass Group Pty Ltd have completed construction for the Single Living Environment Accommodation Project (LEAP 2) facility at RAAF Edinburgh in South Australia. Plenary reported that Defence has moved in one month ahead of schedule. Read more -
July 17, 2013
RBS seeking buyers for Australian PPP schools unit
Bloomberg has reported that Royal Bank of Scotland (RBS) is considering selling Axiom Education Victoria, Read more -
July 19, 2013
Tender for $6-8 billion East-West link in Melbourne launched
Invitations for Expressions of Interest have been called to build Stage One of the East West Link. Read more -
July 19, 2013
Transurban increases H1 2013 revenues and traffic
Transurban announced on 10 July 2013 its traffic and revenue data for the June quarter 2013. Read more
