Global Infrastructure Partners and Abu Dhabi Investment Authority have agreed to buy the Port of Brisbane and have value it at $2.1 billion. The amount is going to be paid in case and will be used by the port for filling the losses that have come up due to financial crisis. Q Port Holdings Consortium has also agreed that it will be buying out a 99-year old lease.

This information was given by Queensland Treasurer Andrew Fraser. This sale is part of the selling lineup where the state government is selling roads, a coal terminal and its coal-freight rail network. It is being done so that they are able to raise A$14 billion through which the revenue shortfall could be met.

Fraser said that because of this sale the taxpayers will be benefited of A$1 billion with the fact that the port is also going to get upgraded. In a statement the treasurer said that the consortium that is going for the buying process has its credentials strong and they can operate the port well.

Queensland had said last month that it plans to raise A$5.05 billion by selling coal-train operator QR National Ltd.