'No forced job losses' at Newcastle Port THERE will be no forced job losses resulting from the sell-off of the Port of Newcastle, NSW Treasurer Mike Baird says. The state government announced a 99-year-lease of the port as a centrepiece of its state budget this month. Mr Baird says workers who didn't want to go to the new lessee could pursue a voluntary redundancy. "No one will be forced out of a job," Mr Baird told reporters after meeting with unions and port employees and management in Newcastle on Wednesday. (A voluntary redundancy) is 100 per cent up to them. But anyone that wants to stay in a job ... they will have that opportunity. The treasurer also said job protections and transfer payments would be made to workers moving to the new lessee. "We were very happy to provide assurances," he said. This is an exciting opportunity for all the employees. From what we saw in the transaction for Port Botany and Port Kembla, just about all the staff transferred. The June 18 budget estimated the government would net $700 million from the long-term lease of NSW's last major port, with $340 million going to upgrading Newcastle infrastructure including a new light rail. The NSW Treasurer said there was "broad support" for the plan in Wednesday morning's talks. "The opportunities that stand before us today are going to be a transformational opportunity for everyone here in Newcastle, and also for the next generation," he said. A timeframe for constructing the light rail will be available by the end of the year, he said. The maritime union welcomed the news that its members wouldn't be losing their jobs but described the planned privatisation as a bad move. "Basically, all our members will retain their positions within the port, so that's good news," said Glen Williams, secretary at Maritime Union of Australia's (MUA) northern NSW branch based in Newcastle. "We're satisfied in that respect," Mr Williams told AAP. However, he stressed that the privatisation of NSW's last remaining major port was a short-sighted political decision. "This is a growth port in NSW," he said. Mr Williams noted that the government's expected sell-off figure of $700 million was "selling the port short." "It's a short term gain," he added. For all that long term revenue we would receive from the port, we're now going to miss out on that. Legislation allowing the 99-year-lease of the Port of Newcastle passed the NSW Upper House later on Wednesday. "Today is a landmark day for the people of Newcastle, and NSW," Mr Baird said in a statement. We have secured support for a transaction that will enable what will effectively be the re-invention of our second-largest city. He said the Government would undertake a scoping study on the Port transaction and only proceed if showed value for money.