Fremantle Port




PROJECT
PIPELINE
STATUS

Prospective pipeline

Credibly proposed

Announced

Under procurement

Preferred bidder announced

Recently closed
Fremantle Port
STATUS

Prospective pipeline

Greenfield (construction) or brownfield (government asset divestment) projects needed or likely to occur within the next five years, but is not formally proposed by a state, territory or major local government.

Credibly proposed

The project or divestment is supported by a state, territory or major local government, is subject to studies or other processes (such as pre-feasibility or scoping studies or business case development), and is likely to proceed to formal announcement.   

Announced

The project has a firm commitment and timeline from a state, territory or major local government, but has not yet entered the market.

Under procurement

The project or transaction is under procurement (such as a call for Expressions of Interest, requests for tender, or another offer to the market).

Preferred bidder announced

A preferred bidder has been selected and is in exclusive negotiations.

Recently closed

Projects that have progressed to contractual close remain on ANZIP for 12 months.

ANZIP is focused only on major infrastructure activity, above the following thresholds:

Australia

Construction projects: > AUD$300m

Investable greenfield & brownfield: > AUD$100m

New Zealand

All greenfield and brownfield projects and divestments: > NZD $100 million


STATUS: Prospective pipeline
VALUE: $2bn AUD
SECTOR: Other transport
JURISDICTION: WA
TYPE: Brownfield

Fremantle Port is Western Australia's largest container and general cargo port, and is operated by the Fremantle Port Authority. Fremantle Port comprises the Inner Harbour at Fremantle (seven container berths, seven common-user berths for general cargo shipping and cargo handling, plus two berths for cruise shipping and two berths used for smaller ships and vessel lay-up) and the Outer Harbour (which currently comprises the Kwinana Bulk Terminal and Kwinana Bulk Jetty). Throughput at the Port totalled 35 million tonnes (Mt) in FY2015/16, including TEU (twenty-foot equivalent units) of 715,000.

Prior to the 2017 March State Election, the State Government begun a process to divest Fremantle Port (both inner and outer harbour assets) by way of a long-term lease, with Rothschild and Deloitte appointed as financial advisers and enabling legislation put before the State Parliament in 2016.

This transaction has moved back in the pipeline following the election of the new WA Government, elected with a policy of not leasing  assets. It has been retained on the prospective pipeline, noting fiscal pressures on WA. .

Fremantle Port reported revenues of $223 million in FY2015/16, and assets of circa $553 million.*

*Indicative valuation based on recent transactions of similar assets (EBITDA multiple of 25)


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