'No forced job losses' at Newcastle Port - Ninemsn

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.

Do you have any story leads, photos or videos?