A channel-widening project that will allow larger ships to access the Port of Townsville will receive $75 million in Queensland Government funding, subject to the project securing all required approvals.
Minister for Ports Mark Bailey said the Townsville Channel Capacity Upgrade, which is still subject to finalisation of an environmental impact statement and business case assessment, had the potential to boost trade, create 120 full-time equivalent jobs, and support 8000 more jobs through industry.
‘The port is a critical trade supply chain handling around 10 million tonnes of produce worth over $10 billion each year,’ he said.
‘Being able to accommodate larger ships at the Port of Townsville will mean the region can continue to attract major private investment into regional growth areas.’
The new commitment builds on substantial prior investment in improvements at the port, including $2 million invested last year to construct a new cargo laydown area, which has since been heavily used.
A $40.7 million upgrade to double the capacity of Berth 4 at the port is also on track for completion by December this year.
The Port of Townsville has submitted an environmental impact statement for the channel-widening project to state and federal regulators for final assessment, and has also completed a business case.
The widening of the channel is a key initiative under the Townsville City Deal, a 15-year commitment between local, state and federal governments that was signed in December 2016.
If you’re looking for help to expand your business into overseas markets, connect with TIQ, the Queensland Government’s global business agency.