SA election 2018: Labor plans to create new ports authority to oversee new deep water port

A NEWLY created ports authority would be set up to oversee Labor’s promised $500 million plus Spencer Gulf deep water port, if the party secures a fifth term in power.

• Labor unveils plans for $500m Spencer Gulf port
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A NEWLY created ports authority would be set up to oversee Labor’s promised $500 million plus Spencer Gulf deep water port, if the party secures a fifth term in power.

The new authority, to be set up as a Government Business Enterprise, would receive a $150 million funding injection to help it raise capital to fund the port development, revealed in the Sunday Mail last week.

It would run the expression of interest process and identify potential locations for the deep sea port, as well as “fast-tracking” other private sector port proposals.

SA Premier Jay Weatherill and SA Treasurer Tom Koutsantonis at Flinders Port on Saturday. Picture: AAP / Roy Vandervegt

The $150 million promise, plus an already unveiled $1.33 billion pledge to remove seven level crossings, means just over $500 million is left in Premier Jay Weatherill’s $2 billion infrastructure fund.

It’s widely expected that money will be used towards tram line extensions, but Mr Weatherill was tight-lipped yesterday.

“You’ll have to wait and see,” he said.

Mr Weatherill said the new authority was needed to fund the long talked about project because the free market had so far failed to deliver it.

“Plenty of private sector companies have wanted to do it. What they need is that extra assistance from government to make it happen,” he said.

“The public sector does have a role in partnership with the private sector to get in there and make these ports happen.”

Liberal frontbencher Corey Wingard said the deep sea Spencer Gulf port had been talked about “ad nauseum”. He said the party wanted to sit down and discuss a new port with the private sector before committing to fund it.