NSW Ports Minister Joe Tripodi is bringing in Chinese investors to take control of the development of Port Kembla and the Illawarra.
“The eyes of China need to focus on the Illawarra and this is why we are forming a new Economic Development Committee to foster a strong working relationship between China and Port Kembla,” Mr Tripodi said
“The committee will focus China’s attention on all the investment opportunities that exist within the Illawarra.
A memorandum of understanding has been signed for the formation of the committee by the Port of Shenzhen in the Shenzhen Municipality, Guangdong Province, the People’s Republic of China, COSCO Shipping and the Port Kembla Port Corporation.
“COSCO’s participation means one of the world’s biggest shipping giants wants to know about Port Kembla,” Mr Tripodi said.
“The agreement has real potential to promote trade, commerce and investment between the two ports and regions.”
The work has started with various companies in China already identified as potential investors in the Illawarra.
“The Economic Committee will feed the information and maintain regular contacts to facilitate mutual economic benefit between the two countries,” he said.
The Economic Committee will be made up of representatives from Shenzhen City, COSCO, Bandfield Group, and the PKPC. It will be jointly chaired by PKPC Chairman Nicholas Whitlam and COSCO Oceania President Captain Liu Chang Long.