The Australian Port of Townsville Limited has again delivered strong financial results while continuing to deliver major infrastructure investments, the port stated in its latest announcement.
With a focus on revenue diversification and cost management, the port posted a solid net profit of $15.01 million for 2017-18.
Commenting the latest news, Chief Executive Officer, Ranee Crosby, said that the year was full of major achievements that will set the region up for future prosperity.
“This year was a significant one for us, reaching historic milestones in a number of new sectors, completing the $40 million Berth 4 upgrade, and securing the green light for our $1.6 billion 30 year development plan to secure North Queensland’s future growth,” said Ms Crosby.
“The $193 million Channel Capacity Upgrade Project is now set to go and will be the largest infrastructure investment in our history.”
“These infrastructure projects not only support local jobs, but importantly they strengthen the economic future of our ports and the regions that we serve for decades to come.”
Significant milestones were achieved for major infrastructure projects including:
- $40.7 million Berth 4 upgrade was completed and opened to shipping;
- $193 million Channel Capacity Upgrade Project received $75 million from the Queensland Government and $43 million from the Port. [The Federal Government committed $75 million in September 2018];
- The $1.6 billion Port Expansion Project received the green light, with the Additional Environmental Impact Statement (AEIS) approved by both the Queensland and Federal Governments;
- Two catalyst Harbor City Projects within the Townsville Waterfront Priority Development (PDA) took significant steps forward, including The Strand Ferry Terminal (Market Led Proposal) and the Marine Science Precinct (Expression of Interest Process).