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Port of Melbourne lease price welcomed

The Australian Industry Group (Ai Group) has congratulated the Victorian State Government on the successful lease on the Port of Melbourne for more than $9.7 billion.

"The very strong figure represents an injection of confidence into the Victorian economy and provides significant additional funding for infrastructure projects in the State," the Victorian Head of Ai Group, Tim Piper, said today.

"The strong Victorian economy and a stable political environment provide investors with certainty and are reflected in the price investors are willing to pay for this vital Victorian asset," Mr Piper said.

"However, it is important that the Port of Melbourne remains extremely competitive against rival ports around the country and that Victorians and Victorian businesses are not disadvantaged by port cost increases. As a monopoly port in Melbourne, costs need to be kept very reasonable," he said.

"Industry looks forward to the new owners, The Lonsdale Consortium, continuing to invest in the port and playing their role in keeping Victorian exports competitive and ensuring Victorian businesses remain competitive in the domestic market," Mr Piper said.

Listen to Tim Piper's full comment on ABC Radio PM

Further comment: Tim Piper – 0411 430 301