Funding proposal for third Melbourne airport

An investment group has announced it will put forward a $7 billion proposal to build a new international airport in Melbourne’s southeast.

Melbourne-based Paragon Premier Investment Fund said it has a letter of intent from an unnamed financier to build an airport about 75km from the CBD around Koo Wee Rup and Lang Lang.

Managing Director, Alande Mustafa Safi, said the plan for the airport, which would be subject to state and federal approvals, would be presented to the Victorian government in July 2017.

“We’re not asking for any government backing or funding,” Mr Safi told AAP.

“We don’t need a penny to build this.”

Mr Safi said the airport would initially run domestic and cargo flights, before extending to international passenger traffic and be fully operational by 2022.

Mr Safi previously raised plans for an airport in Melbourne’s southeast in March 2017.

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