NT to keep port stake
The Northern Territory Government is trying to keep a stake in Darwin's Port.
The former Country Liberals government created controversy when it leased the port to Chinese company Landbridge for 99 years.
The deal required Landbridge to find an Australian company to take a 20 per cent stake in the port in the next five years, but no deal has been made.
Now, it appears the NT Government will instead hold onto that share.
“The [Government] is considering retaining its 20 per cent interest in Port subject to satisfactory commercial negotiations with Landbridge,” it said in a statement.
The Landbridge deal became an international event when then-US president Barrack Obama to ask for a “heads up” from Prime Minister Malcolm Turnbull about this kind of deal.
The sale of the port to Landbridge was also the subject of controversy after former federal trade minister Andrew Robb joined the company in 2016, raising concerns about potential conflicts of interest.