Big Investments in Australian Ports Development
Two major initiatives are boosting port expansion and development in Australia – one is part of new Australian agreements with China. The other is a major initiative by the New South Wales government.
The Chinese inputs include support for rail and deepwater port construction in Oakajee, Western Australia, and a rail line and coal terminal linking a new mining development at Abbot Point, Queensland.
The Abbot point development, which is linked to trade agreements worth US$8 billon (AS$9.1 billion) and “is expected to result in approximately AS$4 billion in exports every year for 25 years,” said former Prime Minister, Kevin Rudd.
Karara Mining and China Development Bank Corporation will also be putting in US$1.2 billion for the construction of the new deepwater port at Oakajee in Western Australia along with its connecting rail infrastructure.
Not to be left out of the equation, Australia’s New South Wales government is earmarking more than $345 million for port infrastructure.
Ports and Waterways Minister Paul McLeay said Sydney Port Corporation will invest AS$314.4 million to improve Port Botany. This will include a further AS$168.7 million to be spent on the large Port Botany Container Terminal Expansion project, which is to create a new 1.8 kilometre wharf with five new shipping berths.
Further, Port Kembla Port Corporation will invest AS$23.8 million including developing the Outer Harbour. The project intends to reclaim an initial 8 – 10 hectares of land.
Lastly, the Port of Newcastle will see investments of almost AS$8 million to improve infrastructure and services.
Source: ports, July 2, 2010;