$9b plan will supersize Abbot Pt
PLANS to expand the Port of Abbot Point have been supersized to a $9billion development.
The State Government will announce the 'super-expansion' today, in the wake of overwhelming demand from the private sector for development of the port.
Three terminals are currently approved and Premier Anna Bligh said the Government had expected to increase this to seven, but a spike in interest from some of the country's biggest mining companies will now take the total number of proposed terminals to nine.
The Port of Abbot Point currently has one export terminal (T1), and two that are being developed by BHP (T2) and Hancock (T3).
This expansion proposal involves terminals four to nine (T4-9) with first coal exported in 2017. These developments could be worth investment of $9billion and deliver tens of thousands of jobs.
The Premier said Abbot Point was destined to become one of the nation's and the world's key export hubs.
The port has experienced significant growth in recent years, and from 2017 export capacity is expected to reach about 385mtpa.
"The super-expansion of Abbot Point will turbo-charge the local economy and boost Queensland's exports to the world," Ms Bligh said.
"It will increase the export capacity of the port to almost 400million tonnes per annum - making it one of the largest coal export facilities in the world.
Ms Bligh said the expansion was in addition to the multi-cargo facility, which will provide a sheltered harbour capable of accommodating up to 12 Capesize berths to facilitate future exports from the port.
"The companies chosen will now progress to the next stage of contract negotiations for the development of new coal terminals at the port."
The preferred respondents for the expansion are Anglo American Metallurgical Coal, Macmines Austasia, North Queensland Coal Terminal , Rio Tinto Coal, Vale, and Waratah Coal.
Preferred respondent status means each proponent can now negotiate commercial agreements with North Queensland Bulk Ports Corporation. It does not confer development rights.