Qube-Moorebank Intermodal reach financial agreement


Works to commence soon on the new IMEX terminal and warehousing precinct

Qube-Moorebank Intermodal reach financial agreement
The project includes development of a new 850,000sqm warehousing precinct.

 

The start of construction of a new freight terminal in Sydney south west is one step closer after Qube Holdings reached a financial agreement on a new deal with Moorebank Intermodal Company.

Developed by the Sydney Intermodal Terminal Alliance (SIMTA), the project involves construction of an import-export (IMEX) freight terminal with a final annual throughput capacity of 1.05 million twenty-foot equivalent units (TEU), and a new interstate terminal with a capacity to handle 500,000 TEU.

The first stage of the project will see the construction of the IMEX terminal with an initial capacity of 250,000 TEU, plus rail links to the Southern Sydney Freight Line and container processing areas.

While the IMEX terminal is expected to start operating in late 2018, the interstate terminal is due for an early 2020 start.

Qube Holdings MD Maurice James says the company was pleased to have reached an agreement that will facilitate the delivery of the "important piece of national infrastructure".

"Linking one of the nation’s busiest ports by rail to an inland facility with the sheer scale and location benefits of the Moorebank site is a game changer that will deliver huge long term benefits to both business and consumers," James says.

Moorebank Intermodal Company chair Kerry Schott says the new precinct will add value to NSW’s transport industry and increase the capacity and efficiency of Port Botany.

"During construction, over 1,300 jobs will be created and once operations are at full capacity the site will employ approximately 6,800 people," Schott says.

"Together with the recently announced Commonwealth investment in airport infrastructure at Badgerys Creek, the Moorebank Intermodal Terminal will be a major economic contributor to south-west Sydney."

The Moorebank project was part of Infrastructure Australia’s priority list and is supported by the Australian Logistics Council.

The wheels of the project were set in motion last year after Qube acquired Aurizon’s 33 per cent stake in the project, with aim to develop, own and operate an open access freight terminal and warehousing precinct of up to 850,000sqm.

The federal government will invest up to $370 million in the project through its representative body, Moorebank Intermodal Company, including funding the rail connection between the terminal and the Southern Sydney Freight Line and land preparation works.

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