China Merchants will join two other companies in the final stage of the bidding process for the 50-year lease of the Port of Melbourne.
Local Australian media has reported that the second round of bids are due to begin later this year in September.
Although the port has a predicted value of just AUS$4.5bn, it is expected to be sold for over AUS$6bn.
It is expected that the Chinese company will partner with an Australian business when running the port and this would be introduced at a later stage of the bidding process.
China Merchants is no stranger to acquiring Australian ports and partnering with local companies. As noted when it previously brought the Port of Newcastle from the New South Wales government back in 2014 and partnered up with Hastings Funds Management.
