128

Views

Port Botany's Expansion Project in Australia Nears Completion

By MarEx 2011-08-01 17:25:39

One of the most ambitious port expansion projects in Australia’s history is now just months away from completion.

NSW Ports Minister Duncan Gay today handed over the site of Sydney Ports Corporation’s $1 billion Port Botany Expansion project third container terminal to Hutchison Port Holdings for operator works.

“I am pleased to hand over the site of this major project to its operator Hutchison Port Holdings, who I understand will have the first berths here operational in early 2013,” Mr Gay said today.

“Port Botany is this state’s premier container port and the $1 billion Port Botany Container Terminal Expansion will double the handling capacity at the current port to meet the projected long-term trade growth for Sydney and NSW.

“This project is a massive investment in the future of the NSW economy. It is one of the most extensive and innovative port infrastructure projects to be undertaken in Australia in the last 30 years,” the Minister said.

Raymond Law, Managing Director, Australasia and North Asia of HPH said: “We are pleased to receive the site from the Sydney Ports Corporation. HPH will equip the terminal with the latest technology and modern facilities in preparation for the opening in 2013. Australia’s growing trade with Asia makes it a major market for HPH, and the port will play an important role in facilitating that trade.”

Mr Gay added, “We expect that the implementation of the third container terminal will create 9,000 new jobs and boost the State’s economy by $16 billion over the next 20 years.”

The Minister said that Port Botany handled a third of Australia’s container traffic and generated $1.5 billion a year in economic activity.

“This expansion has real impacts for the people of Sydney, with 85% of trade through the port going to a home, office or factory within 40 kilometres of Port Botany.”

The Port Botany Expansion project has established five new shipping berths along a new 1.85 kilometre wharf, created dedicated road and rail access to the port and rehabilitated the estuarine environment in Botany Bay.

The HPH network of port operations comprises 308 berths in 51 ports, spanning 25 countries throughout Asia, the Middle East, Africa, Europe, the Americas and Australasia.

The Chairman of Sydney Ports Corporation, Bryan Smith, said the third terminal would increase competition in the sector with the two existing stevedores at Port Botany.

“Our economy needs world class facilities and international operators to be competitive in global trade.

“Sharper competition will benefit NSW businesses and residents by reducing cargo handling charges for goods that come through the port,” Mr Smith said.

Mr Smith said that the project had passed its first two annual compulsory environmental audits, exceeding all compliance requirements and winning an unqualified endorsement for a raft of environmental management initiatives.

“This tick of approval shows significant construction progress has been achieved without any major impact on the local environment,” he said.

The Minister said that the expansion project was a major step forward in the Government’s determination to provide a commercially-focused efficient logistics chain.

“This Government is investing in providing the infrastructure and services that importers and exporters need to meet long term trade growth through the state’s leading container port,” Mr Gay said.