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Port privatisation policy revealed

[ August 8, 2011   //   ]

The Secretary of State for Transport has published a revised policy for privatisation of trust ports. Any such sales must “deliver an enduring and significant level of community participation in the port and including the ability to influence the port’s long term development although not necessarily a community role in the operation of the port.

Sales must also “deliver an ownership model with the capability and access to capital to meet future investment needs and to exploit development potential of the port” and also represent good value for money. It will also be “desirable” to deliver port employee participation in the ownership of the port, such as the right to receive equity shares or a share in its future success.