The NSW Government announced its plan on 12 May 2017 to help fund the final stage of WestConnex - the critical M4-M5 Link connecting two of Sydney’s busiest motorways - by the sale of a majority stake in the company delivering Australia’s largest transport infrastructure project.
The Government confirmed on 16 August 2017 it would launch the competitive trade sale of a 51 per cent stake in Sydney Motorway Corporation (SMC) later this year.
The Government on 22 September 2017 called for qualified parties to register their interest in the sale.
The sale is targeted to close in mid-2018.
SMC was established by the State to finance WestConnex by incorporating an initial investment by the State alongside Commonwealth and private sector debt supported by toll revenue.
The sale forms part of the Government’s core strategy to build budget strength while delivering a once-in-a-generation infrastructure pipeline that creates jobs and drives economic growth.
Cobbora Holding Company Pty Limited
In late 2015 the Treasurer announced that the Government would cease the transaction process for the Cobbora Coal Mine and sell about 44,000 hectares of land for agricultural use. In addition, the water entitlements held by Cobbora Holding Company Pty Limited are being sold.
The sale process commenced in late 2016, with the 3,311ML of high security water licences sold for $14.4m. The land is being sold by public auction, in phases, with the first auctions undertaken in December 2016. The remaining land is being sold through a series of auctions taking place through 2017.
All sale proceeds are being directed to Restart NSW, to be invested into new infrastructure across the State.
Further information can be found at http://www.cobbora.com.au/