Melb port lease on hold, but talks roll on

Leasing the Port of Melbourne didn't happen overnight, but it might still happen.

The Andrews government was keen to get the legislation through the Upper House by Thursday, the last sitting day of the Victorian Parliament for 2015, to fund its promise to remove 50 railway level crossings.

But the opposition is seeking amendments to the bill.

Talks to get it passed broke down, and debate on the issue was adjourned until parliament resumes next year.

Treasurer Tim Pallas has backed down on threats to bypass the parliament to force the lease sale if the bill didn't pass and, as the day closed, the tone from both sides was more conciliatory.

Opposition Leader Matthew Guy said the coalition and Labor will talk through the break.

"We anticipate continuing discussions with the government to ensure that an amended bill can pass the parliament in February," he said.

In response, Mr Pallas said: "We look forward to the opposition sticking to their stated February timetable and respecting the mandate we received at the last election".