The Victorian Government, Australia, has finally launched the formal transaction process for the 50-year Port of Melbourne lease contract. The Parliament voted in favor to tender the port with the 85% of the votes on 10 March 2016.

The Port of Melbourne is Australia's largest container port, accounting for up to 35 per cent of Australia's container trade. It is located in Melbourne, Victoria, and covers an area at the mouth of the Yarra River, downstream of Bolte Bridge, which is at the head of Port Phillip, as well as several piers on the bay itself.

The deadline for Interested firms in participating in the transaction and submit their Expressions of Interest is 10.00 am on Monday 18 April 2016 Australian Eastern Standard Time.

To receive a copy of the Victorian Government’s Request for Expressions of Interest should email pomlease@morganstanley.com

In mid August 2014, the State of Victoria appointed financial advisers Morgan Stanley and Flagstaff Partners to manage the transaction. Minter Ellison was also appointed as legal adviser for the transaction. 

Tim Pallas, Treasurer of the Victorian Government, said:

“The Andrews Labor Government is getting on with leasing the Port of Melbourne and using the proceeds to build key infrastructure across the State and create jobs.The lease will make our port even better, increasing efficiencies and competitiveness, and will reinforce Victoria’s position as the freight and logistics capital of the nation.We’re moving to market quickly because of the strong bidder interest in the Port of Melbourne and we’re confident the lease will deliver significant, long-term economic benefit to Victorians.”