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Shandong's Landbridge to operate Australian Port of Darwin for 99 years
SHANDONG's Landbridge has succeeded in its A$506 million (US$371.4 million) bid to operate Australia's Port of Darwin for 99 years if it can find an Australian junior partner, South China Morning Post reported.
Citing a statement from the Australian government, the Shandong-based energy and infrastructure firm, controlled by billionaire Ye Cheng, has taken an 80 per cent stake in the Northern Territory port.
But it must find an Australian investor to buy the 20 per cent within five years, said the report. Landbridge has assets of CNYB16.7 billion (US$2.632 billion) and owns a port in southern Shandong with a 220-million tons annual capacity.
Citing a statement from the Australian government, the Shandong-based energy and infrastructure firm, controlled by billionaire Ye Cheng, has taken an 80 per cent stake in the Northern Territory port.
But it must find an Australian investor to buy the 20 per cent within five years, said the report. Landbridge has assets of CNYB16.7 billion (US$2.632 billion) and owns a port in southern Shandong with a 220-million tons annual capacity.
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