Australian gov't rules out canceling Chinese firm's lease of Port of Darwin

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Australian gov't rules out canceling Chinese firm's lease of Port of Darwin

STORY: Australian gov't rules out canceling Chinese firm's lease of Port of Darwin DATELINE: Oct. 21, 2023 LENGTH: 00:00:48 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of Port of Darwin 2. various of the Northern Territory Government announcing the 99-year lease agreement for Darwin Port in 2015 STORYLINE: The Australian government has announced it will not cancel a Chinese company's lease of the Port of Darwin. The Department of Prime Minister and Cabinet on Friday announced that, following a review, it decided it was "not necessary to vary or cancel" the Landbridge Group's 99-year lease of the port in the capital of the Northern Territory (NT). The Landbridge Group, a Chinese firm, in 2015 signed a deal with the government of the NT to lease the port following a bidding process. Shortly after winning power in 2022, Prime Minister Anthony Albanese instructed his department to review the lease. The review, which took advice from government departments and security agencies,

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