QLD BUDGET 08/09: Govt signals funding boost to increase port capacity

By: Jason Whittaker


The Port of Brisbane Corporation will invest more than $500 million over five years in constructing new wharves to increase

The Port of Brisbane Corporation will invest more than $500 million over five years in constructing new wharves to increase its container-handling facility and the number of stevedores operating.

Two wharves will be built and new land works established at Fisherman Islands, with one wharf to be operational by 2012 and the other by 2014. Both projects, at a cost of $536.6 million, will boost container-handling by 25 percent and increase the number of dedicated container wharves to nine, according to Budget papers released.

Hutchinson Port Holdings (HPH) will fund the development of container terminal facilities, following its agreement to become the third stevedore operating in Brisbane.

"Construction of the new wharves by PBC (Port of Brisbane Corporation) and construction of the associated container terminals by HPH represent the most significant one-off construction project that PBC has undertaken to date," according to papers released after Treasurer Andrew Fraser handed down the Budget.

The Government expects the new wharves and container terminals will accommodate future growth in trade volumes as well as maintain price competitiveness and efficiency.

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