Chief Minister Adam Giles announced on Tuesday 13 October 2015 that the Port of Darwin will have a new operator under an agreement signed today with the Landbridge Group worth $506m.
Under the terms of the agreement the Territory will lease the Darwin Port land and facilities of East Arm Wharf (including the Darwin Marine Supply Base) and Fort Hill Wharf to Landbridge Group for 99 years.
The Territory will retain Stokes Hill Wharf, Fisherman’s & Hornibrook’s Wharves and Frances Bay facilities. It will also retain a range of oversight and regulatory functions including the Regional Harbourmaster role and (through the independent Utilities Commission) responsibility for price and access regulation.
The successful bidder was selected following a competitive process which included local and international interest and resulted in a number of high quality binding offers.
Chief Minister, Adam Giles, said that the search for a private sector partner to operate the port had achieved an outstanding result for the Territory. To read the joint press release by the Chief Minister and Landbridge Group, click here.