Port of Brisbane sold

Queensland Treasurer Andrew Fraser has announced the signing of documents for the 99 year lease of the Port of Brisbane to the Q Port Holdings Consortium.

Q Port Holdings includes major stakeholders Global Infrastructure Partners (GIP), Industry Funds Management (IFM) and funds managed by QIC Limited (QIC), and a minority stake held by Tawreed Investments Ltd., a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

The sale delivers $2.1 billion in cash proceeds to the Queensland Government as well as the new owner agreeing to fund the future upgrade of section 3 of the Port of Brisbane Motorway, at an estimated cost of $200 million.

Click here to read the Treasurers press release.