As governments look to fill Australia’s infrastructure gaps and pay down debts, privatising commercially viable assets to generate funds for future projects is becoming an increasingly appealing option.
The recent and most significant recent example is the 99 year, $5.07billion lease of Port Botany and Port Kembla by the NSW Government to the NSW Ports Consortium in April. The funds raised from this historic transaction will be used in part to build major road infrastructure projects, including Westconnex.
In his budget speech, NSW Treasurer Mike Baird said of the deal: “By recycling assets that are not part of core public service delivery, we have created a capacity to invest in new infrastructure, without pushing debt to levels that would trigger a rating downgrade”
Furthermore, in his Commission of Audit Report, former Federal Treasurer Peter Costello strongly recommended the Queensland Government sell its state-owned businesses as part of a road map to regain its AAA rating.
Given what a pertinent issue asset privatisation is, Informa is proud to host its inaugural Asset Privatisation Briefing Day. The program includes analysis of the motivations for recycling capital plus state-based reviews on recent asset sales and updates on future plans for privatisation. Key speakers include:
Key topics include: