Fremantle Port sale fail as Nationals withdraw support

Wednesday, 23 Mar 2016 11:59:49

Fremantle Port was expected to sell for $2 billion.

The sale of Fremantle Port will not go ahead after the Nationals confirmed they would not support it, just hours after the party delayed the passage of legislation for the sale of the Utah Point port in the Pilbara.

Utah Point and Fremantle Port are part of a raft of public assets the Government has flagged selling in light of spiralling debt and deficits in the forward estimates.

Fremantle Port was expected to attract a sale price of around $2 billion.

But Nationals leader Terry Redman said today the sale process followed by the Liberal Party was "fundamentally flawed" and not transparent enough.

He said his party "cannot see a pathway" that would enable them to support the sale of such an important strategic and commercial asset.

Treasurer Mike Nahan had expressed confidence the port would sell by later this year for a minimum of $2 billion, despite the Nationals abstaining from a Cabinet decision this week to approve the sale.

Further complicating the sale, federal Treasurer Scott Morrison has tightened foreign investment rules, requiring the Foreign Investment Review Board to approve the sale of critical infrastructure belonging to the states and territories.

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Fremantle Port sale fail as Nationals withdraw support

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