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NT sought FIRB advice on port deal

Trade Minister Andrew Robb says the NT government sought foreign investment advice on the proposed port lease even though it didn't have to

The Northern Territory government didn't have to but it sought advice from the Foreign Investment Review Board when it started negotiations to lease the Darwin port, Trade Minister Andrew Robb has told parliament.

For the next 18-months the board followed the process.

As well, Defence was consulted with department secretary Dennis Richardson saying no part of Defence had any concerns about the port being leased to Chinese firm Landbridge for 99 years at a fee of $506 million.

Mr Robb said the government was deeply concerned about the propriety and integrity of foreign investment.

"We have to carry the nation with us, we have to have national support, we have to act in the national interest of our country," he said in question time.

That happened in the lease of Darwin's port.

"If we don't get foreign capital into this country we will not develop as we should."


1 min read

Published

Updated

Source: AAP



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