The Australian state's Treasurer and Transport Minister Troy Buswell has announced that the Dampier Port Authority will open an expression of interest in coming months to seek market interest in developing new infrastructure as well as leasing some existing facilities.
On 18 September 2013, Standard & Poors cut Western Australia credit rating to AA+. The government had boosted spending on infrastructure to exploit a decade long mining boom driven by China's rapid urbanization, taking on extensive debt in the process.
Now Western Australia is moving toward recouping its triple-A credit rating and reducing future costs with a plan to auction rights to upgrade its Dampier Port through a public private partnership concession.
Troy Buswell, Treasurer and Transport Minister, stated:
Last financial year the port marked a record tonnage throughput and it is growing at around five per cent per year. However, the port's high level of growth has put pressure on its infrastructure which is not keeping up with demand.
Located in a mineral- and gas-rich region of Western Australia, Dampier predominantly exports iron ore via Rio Tinto's private facilities on one side of the harbor and liquefied natural gas on the other side.