The Allan Labor Government has finalised a 42-year lease with the Port of Melbourne - a deal that will get more trucks off local roads across the west and inject millions into the economy.
Minister for Ports and Freight Melissa Horne today announced the 29-hectare former Melbourne Market site will be leased to the Port of Melbourne until 2066.
The Port of Melbourne is Australia's busiest container port, handling more than a third of Australia's containerised trade.
Equivalent to more than 14 MCGs - the old Melbourne Market site has the potential to further increase the Port's capacity by an additional one million twenty-foot containers annually, boosting trade and making Victoria's supply chains more efficient and resilient.
Currently shipping companies store their containers at small sites across the west - the new site will mean companies can store their containers right next to the port helping minimise truck trips through suburbs in Melbourne's inner west including Footscray, Yarraville, Tottenham, Brooklyn and Seddon.
The site will also better support truck drivers by providing a dedicated space for them to refuel and take a break.
