A lease held by a Chinese company at Darwin Port will not be canceled after a federal government review found it was “not necessary” to do so.
The review, carried out by the Prime Minister’s Office, found that there were “robust” regulatory systems in place to manage any risks to critical infrastructure and that oversight mechanisms were “sufficient”.
“As a result, it was not necessary to modify or cancel the lease,” the ministry said in a statement.
“Australians can be confident that their security will not be compromised, while ensuring Australia remains a competitive destination for foreign investment.
“The review took into account the findings and results of these previous assessments and considered whether the risk management and mitigation arrangements are sufficient to protect Australia’s national security interests relating to the port.”
A federal government review has found there is “no need” to cancel a 99-year Darwin Port lease granted to a Chinese company.
The federal government accepted the advice of the reviewing ministry.
Chinese company Landbridge signed a 99-year lease for the port of Darwin in the Northern Territory in 2015 for more than $500 million.
The lease sparked controversy amid fears of a national security risk.
The review was set up by Prime Minister Anthony Albanese after last year’s federal election.
A previous defense review, conducted under the former Liberal government and delivered to then-Defence Minister Peter Dutton, found there were no national security grounds to cancel the lease.
Lease held by Chinese company at Darwin port will not be canceled following federal government review