{"id":34691,"date":"2016-09-19T16:00:31","date_gmt":"2016-09-19T06:00:31","guid":{"rendered":"http:\/\/nofibs.com.au\/?p=34691"},"modified":"2019-04-16T13:31:11","modified_gmt":"2019-04-16T03:31:11","slug":"what-impact-sealevelrise-on-melbournes-privatised-port-facilities-asks-takvera","status":"publish","type":"post","link":"https:\/\/archive.nofibs.com.au\/what-impact-sealevelrise-on-melbournes-privatised-port-facilities-asks-takvera\/","title":{"rendered":"What impact #sealevelrise on Melbourne’s privatised port facilities? asks @takvera"},"content":{"rendered":"
\"Melbourne

Melbourne Port showing Equilibrium sealevel for 2C and 4C of global warming stabilised temperatures<\/p><\/div>\n

The Andrews Victorian state government has been successful with the sale of the Port of Melbourne for $9.7 billion, an election promise. The government had been expecting around $7 billion for the asset. Technically, its not a sale, but a 50 year lease of the port\u2019s commercial operations. The long term lease of Australia’s largest port facilities had bipartisan support, with the State Liberal Party, when in power, doing much of the initial paperwork to bring about the privatisation.<\/p>\n

The new owners of the Port of Melbourne are the Lonsdale consortium which includes the Queensland Investment Corporation, the Future Fund, GIP and OMERS.<\/p>\n

This is another public asset sale deriving from neoliberalism which has had the support of both major political parties. There are really very few state owned assets left to flog now.<\/p>\n

The money will be a windfall gain for the state’s budget, but it sacrifices future revenue and control of Port infrastructure. The port is a major gateway for imports and exports and holds a near monopoly position. Being at sea level, the port facilities are extremely vulnerable to sea level rise due to climate change.
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Much of the proceeds from the sale have already been factored into the state budget to fund Victoria’s promise to remove 50 level crossings over two terms, Metro rail project, and the Mernda extension. <\/p>\n

The Premier’s media release<\/a> lead with the line that Regional Victoria will be a major winner from the sale with more than $970 million to be invested in regional and rural infrastructure projects. This money will help fund agriculture sector projects and programs, including transport, irrigation, and energy projects, as well as skills development programs and market access campaigns.<\/p>\n

The sale also qualifies the state government for an additional 15 percent federal funding under the Commonwealth\u2019s asset recycling initiative.<\/p>\n

The Harbour Master, Station Pier, relevant safety and environmental regulation, waterside emergency management and marine pollution response will all remain responsibilities of the Victorian State. The new leaseholders will be responsible for maintaining access to public walkways and bike paths for community use.<\/p>\n

Commercial and recreational vessels\u2019 access will not be affected by the lease. The port will be returned to public hands at the end of the 50 year lease.<\/p>\n

The Opposition Leader Matthew Guy reacted to the sale not in a positive vein but by calling for the Skyrail proposals to be dumped in favour of far more expensive underground rail for the level crossing removals, and for re-imposition of the extremely costly East West Link roadway project. <\/p>\n

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\nWith the lease of the Port there is now no excuse to inflict cheap and nasty Skyrail on the suburbs and no reason not to build the EWLink.<\/p>\n

— Matthew Guy MP (@MatthewGuyMP) September 19, 2016<\/a><\/p><\/blockquote>\n