Four Port Kembla 'bidders' revealed

The consortium that won the right to lease Sydney’s desalination plant is one of four bidders now looking at Port Kembla, according to an online finance magazine.

ProjectFinance has reported that the consortium of Hastings Fund Management, from Melbourne, and Ontario Teachers Pension Plan, from Canada, is one of the bidders interested in taking up the 99-year leases of Port Kembla and Port Botany.

In May this year the consortium signed a $2.3 billion deal to lease the desalination plant for 50 years.

The other three bidders mentioned in the story, which went online yesterday, were Canadian Pension Plan and Queensland Investment Corp; Citi Infrastructure Investors; and Global Infrastructure Partners and Industry Funds Management.

A spokeswoman for NSW Treasurer Mike Baird would not comment on speculation regarding bidders for the ports ‘‘as this is commercial in-confidence information’’.

 The Canadian Pension Plan is involved with Lend Lease in developing the Barangaroo project in Sydney.

Global Infrastructure Partners is a multinational private equity firm with headquarters in New York and was one of the bidders for the Port of Brisbane when it was available for leasing in 2010.

Industry Funds Management is an international investment manager and was also a bidder for the Port of Brisbane two years ago.

The deadline for bidders was last Friday and there is no indication on whether the two NSW ports will be leased together or separately.

Port Botany is expected to fetch as much as $2.2 billion and Port Kembla $500 million.


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