Japanese's Mitsubishi Corp is intending to sell a 50 percent stake in the Oakajee port construction project in Western Australia to a Chinese consortium after announcing a deal to buy Murchison Metals' share of the infrastructure development, according to international media sources.
The $325 million sale, to be completed by February next year, could result in Oakajee being built as a combined Japanese-Chinese project. The Chinese consortium in question is reported to consist of Sinosteel Corporation and Anshan Iron and Steel Group. This would be the first time for Chinese companies to participate in a large-scale infrastructure program in Australia.
Oakajee is located 445 km north of Perth in Western Australia.