A West Australian company says it's considering a bid to takeover the Port of Darwin. Labor has been in negotiations with several potential buyers in recent months to fulfil its election commitment to return the asset to Australian hands.

Darwin

The Port of Darwin, a key strategic asset in northern Australia, has been under a 99-year lease to Chinese-owned Landbridge since 2015, a deal approved by a previous government. The current government is now seeking to transfer ownership to an Australian company, citing ongoing national security concerns and increased regional military tensions involving China. Several Australian businesses, including those led by Andrew Nutter, have expressed interest in acquiring the port, with discussions underway between potential buyers and government officials. If a suitable buyer is not found, the government may consider compulsory acquisition, a move supported by the opposition. Landbridge has previously stated that the port is not for sale.

Chinese-owned Darwin Port up for grabs

Known as the nation's northern gateway, the Port of Darwin is a critical strategic asset, but it's not in Australian hands. We do not believe that the Port of Darwin should ever have been sold. Chinese-owned company Landbridge signed a 99-year lease in 2015 worth $500 million under a deal approved by the former coalition government. Labor is now searching for an Australian company to take ownership, as announced during the federal election campaign. There is a number of people interested. Among those in talks with both the Northern Territory and federal governments is Andrew Nutter. He runs two major marine infrastructure businesses in Western Australia. Regional ports are our business and so we most definitely would consider making a bid if it made commercial sense to. His vision... We'd be looking at the location and how we could enhance it or improve it. The Port of Darwin has been the subject of national security debate over the past decade, but the government has made this decision now, as China escalates its military aggression in our region. If a buyer isn't found, taxpayers could be required to cover the cost of a compulsory acquisition. The opposition supports the move. This proposal will go through its normal commercial and confidence type thing, so I look forward to the outcome of it and think it's good it's coming back into Australian hands. Lambridge has previously said the port is not for sale. Lucy Gray for 10 News First.

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Breakdown