Contingent on the passage of Port of Melbourne lease legislation, the Victoria, Australia government has committed to establish a $200 million agriculture infrastructure and jobs fund designed to boost economic growth. Premier Daniel Andrews, joined by Minister for Agriculture, Jaala Pulford, Member for Eastern Victoria, Harriet Shing, and Victorian Farmers Federation President, Peter Tuohey, made the announcement this weekend.

 

The four-year fund will help farmers and other stakeholder along the value chain through investment in agricultural supply chain infrastructure and processes that will increase productivity and increase exports while reducing costs. Funds will be available to actors engaged at any point along the value chain, to educational programs, and to organizations whose aim is to improve market access.

 

Under a new agreement, the Port of Melbourne, Australia’s busiest container port would be leased to private interests for 50 years and should raise billions of dollars to be invested in transport projects. And now the government believes that the controversial sale of a 50-year lease will bring in $5-6 billion more than originally expected.

 

“We think it’s only fair that there be a proper sharing of that additional revenue beyond the election commitments we made,” Premier Andrews said.

 

However, opponents to the 50-year lease argue that it effectively kills any opportunity for the development of a second container terminal in the port of Melbourne for the next half century.

 

The legislation is up for passage through parliament next week.