The Maritime Union of Australia has condemned the NSW Government's short-sighted decision to engage in a fire sale of publicly owned ports and intermodal facilities.
MUA Sydney Branch Secretary, Paul McAleer, said future generations had been dudded by the sale.
“The MUA believes the sale means that a profitable public asset will unnecessarily end up in private hands when it could have continued to provide substantial revenue for the public good, well in excess of the likely sale price over the 99 year period," Mr McAleer said.
"This is a disgraceful outcome for the people of NSW. It's clear that this sale is designed to serve corporate interest, not the public interest.
"For the sake of a short term budget sugar hit, the people of NSW will lose assets that provide an estimated annual revenue stream of about $100 million.
"Our ports and intermodal facilities are vital, strategic assets. Yet this Government is flogging the silverware for a pittance."
MUA Southern NSW Branch Secretary, Garry Keane said the Illawarra had been particularly let down.
"Public opposition to this sale is real and palpable and the people of the Illawarra know they're being short-changed," Mr Keane said.
"Despite that, the State Government is ignoring community sentiment and pushing ahead regardless.
"The people of the Illawarra will not forget this act of economic vandalism."