Australia Reviewing Already Signed Agreement with Chinese Company on Lease of Darwin Port

Australia is reviewing the 99-year lease of a commercial and military port in the country's north to Landbridge Group, which is owned by Chinese billionaire Ye Cheng, a government source said on Monday, a move that could further inflame tensions between Beijing and Canberra, Reuters reports.

Australia overhauled its foreign investment laws late last year, giving the government the retrospective power to impose new conditions or even force a divestment on deals that have already been approved.

Landbridge, which has close ties to the Chinese military according to media reports, won a bidding process in 2015 to operate the port in a deal worth USD 390 million.

The Sydney Morning Herald newspaper, which first reported the review, quoted Defense Minister Peter Dutton as saying the government would "look at options that are in our national interests after that.”

The defense department, the Australian offices of Landbridge and the Chinese embassy in Canberra did not respond to requests for comment.

Government of Australia

Landbridge China

Darwin port

Peter Dutton