Newcastle councillors want the state and federal governments to seize the chance to bring a 50 per cent stake of the Port of Newcastle back into public hands.
Greens councillors Siobhan Isherwood, Joel Pringle and deputy lord mayor Charlotte McCabe have co-signed a motion calling on City of Newcastle to write to Prime Minister Anthony Albanese and NSW Premier Chris Minns urging them to collaborate on the purchase.
The push comes after part-owner, Macquarie Asset Management, announced it was considering the sale of its half of the port, estimated to be valued at more than $1.5 billion.
Councillor Isherwood said the port is an important strategic asset for the region and for the transition away from coal towards a clean, sustainable, diversified economy.
"Having that strategic asset in public hands would allow Newcastle and NSW to make decisions about the port that are in the best interest of our community, rather than that of private owners," Cr Isherwood said.
"For all the promises, privatisation has left Novocastrians worse off, be it at the Mater, our public transport network or the port.
"The Greens just want to see these assets back in public hands and delivering for Newcastle and its residents."
Cr Isherwood said the sale offers a great opportunity to start rebuilding a public asset base.
Macquarie has hired Goldman Sachs to review its options, which may lead to the sale of the 50 per cent stake in the port that it manages for The Infrastructure Fund (TIF).
The TIF is an unlisted infrastructure investment vehicle that is due to wind down in two years.
Chinese Merchants Group continues to hold the other 50 per cent stake.
Greens councillors want City of Newcastle to write to local state and federal members, including Sharon Claydon, Tim Crakanthorp and Sonia Hornery, asking them to push for Macquarie's 50 per cent stake to be brought back into public hands.
The Port of Newcastle was sold by the state government in 2014 for $1.75 billion.
In August, the Newcastle Herald reported that infrastructure experts believed Chinese influence over the port would make it difficult to attract a new investor.
The experts, who did not wish to be named, said while there would be no issue attracting a new buyer if 100 per cent of the port was for sale, there was reluctance to purchase half a share.
During last year's federal election, Labor announced plans to take back control of the Port of Darwin, which has been controlled by Chinese company Landbridge since 2015.
Both major parties have said they are not interested in changing the existing ownership arrangements for Newcastle.
Councillors will vote on the motion on August 25.
