Controversial lease of Darwin to China

The company plans develop the Port of Darwin’s infrastructure and increase trade with Asia through its business and networks in the region.

Australian media reported that US President Barack Obama has expressed anger at Australian Prime Minster Malcolm Turnbull for not having informed him about the deal.

This is said to be because the Chinese firm have close ties to the Chinese military.

ABC News played down concerns about the leasing of the port. It reported that Turnball has discussed the issue with President Obama during a bilateral meeting on the sidelines of this week’s APEC Summit in Manila.

Landbridge, owned by Chinese billionaire Ye Cheng, said that CEO Terry O’Connor will lead the day to day business operations of the port. The deal is said to be worth more than US$363m.