Newcastle goes to Oz/China joint venture
NewsA 98-year lease of the world’s largest coal port has been sold to Port of Newcastle Investments, a 50:50 joint venture formed by Australia’s Hastings Funds Management and China Merchants Group.
The retirement of Gary Webb as CEO of Newcastle Port Corporation (NPC) has seen Grant Gilfillan appointed as his replacement pending the sale by the New South Wales Government of a 99-year lease of the port.
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