The Federal Government is pushing ahead with tough new foreign investment rules which could impact the sale price of the Port of Melbourne's long-term lease.

Key points: Regulations have potential to reduce bidders for Port of Melbourne lease

Regulations have potential to reduce bidders for Port of Melbourne lease Commonwealth refuses to hold off on changes until lease is approved

Commonwealth refuses to hold off on changes until lease is approved Victorian Government confident rules will not impact sale price

The Victorian Government plans to lease the port to private interests for 50 years to raise an expected $5 billion to $6 billion to fund transport projects including the removal of railway level crossings.

But legislative changes to be introduced by the Commonwealth would mean the sale of major infrastructure, like the port, to an overseas company would be closely scrutinised by the Foreign Investment Review Board (FIRB).

The reforms were proposed by Federal Treasurer Scott Morrison following the controversial sale of the Port of Darwin to a Chinese company with links to the Government.

They have the potential to reduce the number of bidders and the final price paid for the Port of Melbourne's lease.

But Mr Morrison has told the ABC's AM program the Commonwealth would not be beholden to the Victorian Government's timetable for leasing the port.

"It's not clear at what point they will finish their legislative process and what the timetable is around that issue," he said.

"But we're moving quite quickly on the changes that I flagged last year which would see that critical infrastructure would be covered under the purview of FIRB."

Victorian Government unperturbed by changes

A bill to facilitate the sale of the port's lease stalled in the Victorian Upper House last year.

It may prove difficult for the Government to finalise the sale before the new foreign investment regulations are introduced.

The Victorian Roads and Ports Minister, Luke Donnellan, said he did not expect the change to make a difference to the port's sale.

"This is nothing particularly new, this is nothing unusual in the sense that a major asset is put through foreign investment review board process to ensure Australia's interests are protected," he said.

"This is a slight beefing up of that process, but it will not alter at all the proposition that we will be putting up the Port of Melbourne for a lease for 50 years."

The Opposition spokesman for Ports, Michael O'Brien, said the Coalition supports the change to foreign investment rules.

"The Port of Melbourne is a very important asset, not just economically but also strategically for the state and for the nation," he said.

"The Victorian Coalition believes it's appropriate all bidders pass muster before they're able to take a stake in such an important asset."