Report: Australia to Review 99-Year Lease of Darwin Port to Chinese Firm
3 May 2021
Australian defense officials are reviewing a Chinese firm’s 99-year lease of Darwin Port in northern Australia due to “national security” concerns, an Australian government source told Reuters on Monday.
“Defense officials are looking into whether the Landbridge Group, which is owned by Chinese billionaire Ye Cheng, should be forced to give up its ownership of Darwin Port on national security grounds,” the source told Reuters.
“Advice has been sought on the port and that will go to national security committee in due time,” the source added.
UPDATE 1-Australia reviewing lease of Darwin port to Chinese firm - source Reuters 1 hr ago
(Changes slug, recasts to add source, new detail)
SYDNEY, May 3 (Reuters) - Australia is reviewing the 99-year lease of a commercial and military port in the country s north to a Chinese firm, a government source said on Monday, a move that could further inflame tensions between Beijing and Canberra.
Australia overhauled its foreign investment laws late last year, giving the government the retrospective power to impose new conditions or even force a divestment on deals that have already been approved.
Defence officials are looking into whether the Landbridge Group, which is owned by Chinese billionaire Ye Cheng, should be forced to give up its ownership of Darwin Port on national security grounds, the source told Reuters.
By Reuters Staff
4 Min Read
SYDNEY (Reuters) -Australia is reviewing the 99-year lease of a commercial and military port in the country’s north to a Chinese firm, a government source said on Monday, a move that could further inflame tensions between Beijing and Canberra.
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Australia overhauled its foreign investment laws late last year, giving the government the retrospective power to impose new conditions or even force a divestment on deals that have already been approved.
Defence officials are looking into whether the Landbridge Group, which is owned by Chinese billionaire Ye Cheng, should be forced to give up its ownership of Darwin Port on national security grounds, the source told Reuters.