New face throws cap into Brisbane bidding ring

Other first-round bidders are thought to include Global Infrastructure Partners, Queensland Investment Corporation and a Macquarie-led consortium including Morgan Stanley Infrastructure Partners.

The lease of the port will be conducted under strict conditions. No freehold land will be offered under the deal, and ownership stakes by port users and their associates will be capped at 20%.

The Queensland government sees the sale of the lease as being the next logical step in order to grow the port business, rather than maintaining the facility under traditional direct state control.

Already, the port is showing solid growth, with percentage growth in mass tonnes between 2004 and 2009 of 4.9% and container volumes rising 7% in that period.

Infratil has a history of strategic infrastructure investment plays over the last two decades, including taking cornerstone stakes in ports such as Tauranga in New Zealand. It tends to be a hands-on investor rather than passive.

The Port of Brisbane is located at the mouth of the Brisbane River, 24 kilometres from the city’s CBD. The lease sale is expected to be concluded by the end of the year.