State Treasurer Mike Baird confirmed today the Kurnell desalination plant would be leased to an international consortium for 50 years.
He said the government would receive $2.3 billion for the plant, pipeline and site.
At the end of the 50 years, ownership would be transferred to the consortium, made up of the Ontario Teachers’ Pension Plan Board, two funds operated by Hastings Funds Management, Utilities Trust of Australia and The Infrastructure Fund.
Mr Baird said after repaying the $2 billion debt incurred in building the facility, the government would invest $300 million in new infrastructure, such as major road projects.
The consortium promised to ‘‘actively engage’’ with affected communities and councils.
Full story in Tuesday’s Leader.
What do you think of the sale of the desalination plant?
