Port sale to pay off debt

THE State Government will sell Fremantle Port to pay for major projects.

It is aiming to sell Fremantle Port through a long-term lease and use the proceeds to pay off debt and fund new projects.

Treasurer Mike Nahan announced the plan as part of a second lot of asset sales in today�s Budget.

It follows on from announcements in September last year that the Kaleeya and Woodside Hospital sites were among five Fremantle, East Fremantle and Cockburn assets which would also be sold to private owners.

Premier Colin Barnett said the decision would enable the government to build new infrastructure to support future growth without putting pressure on WA�s finances.

For more on what the State Budget means for Fremantle, read Tuesday�s Gazette.