Australia: Padbury Mining Secures $6.5 Billion Port Funding

Padbury Mining has secured the funding necessary to construct a $6 billion deep water port and associated rail network at Oakajee.

This is a major break through for the company and the region.

The funding is to be provided by private Australian equity investors and is contained within an executed Shareholders Agreement between the parties.

The funding will be provided in three tranches:

1. First tranche – US$470 million;

2. Second tranche – US$3,450 million;

3. Third tranche – US$2,550 million.

The first tranche will be used for completing the design and construct specification over the first nine months, for early civil works and to meet early ordering of long lead items.

Drawdowns against tranches two and three will be used for construction.

Press Release, April 14, 2014

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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