By Swati Pandey

SYDNEY, April 18 (Reuters) – Three consortia of Australian and worldwide funds have submitted bids for a 50-year lease of the Port of Melbourne, Australia’s greatest transport container terminal, individuals acquainted with the matter mentioned on Monday.

The state authorities of Victoria goals to boost not less than A$5.3 billion ($4.1 billion) earlier than the tip of 2016, as a part of a broader Australian authorities privatisation programme to assist minimize debt and improve the nation’s infrastructure.

Australian financial institution Macquarie Group’s Macquarie Infrastructure and Real Assets fund has teamed up with home infrastructure fund IFM Investors and Dutch pension fund APG in one of many bidding teams, the individuals mentioned, declining to be recognized as a result of the matter was confidential.

Another joint bid was submitted by Australian fund QIC and Canada’s Borealis Infrastructure Trust, the individuals mentioned. A 3rd consortium consisted of Australian fund Hastings with Kuwait’s Wren House, they mentioned.

QIC, Hastings, IFM and Macquarie all declined to remark. Borealis, APG and Wren House didn’t instantly reply to requests for remark exterior their regular enterprise hours.

A spokesman for the Victorian state treasurer mentioned, “We expect strong market interest with Port of Melbourne the last major port in Australia (up for sale).”

Morgan Stanley and Flagstaff Partners are appearing as advisors to the Victorian authorities on the sale.

While the Australian authorities has confronted questions over its dealing with of Chinese government-linked buyouts in different infrastructure gross sales, the Port of Melbourne deal didn’t attracted curiosity from Chinese gamers, one of many individuals acquainted with the matter mentioned.

In October final 12 months, the A$506 million privatisation of Port of Darwin to China-owned Landbridge earned rebukes from opposition politicians, and even U.S. lawmakers, who warned the deal might threaten nationwide safety.

Meanwhile, the state of New South Wales mentioned final month it acquired “strong” indicative bids from Chinese buyers for an electrical energy distributor it has placed on the block. Last November it offered one other energy community to a worldwide consortium led by Hastings for A$10.3 billion.

($1 = 1.3036 Australian {dollars}) (Additional reporting by Byron Kaye; Editing by Kenneth Maxwell)

(c) Copyright Thomson Reuters 2016.