NSW to take Newcastle port indications on Monday

The busy port, valued at $700 million, is expected to attract Australian and Asian bidders.

The New South Wales government will on Monday call for indications of interest from potential buyers of the Port of Newcastle, an asset the state values at $700 million.

Australia’s oldest port, where coal exports represent 90 per cent of total throughput tonnage, is expected to be sold before May, in time to bolster the NSW budget. The government wants to return to surplus by 2015.

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