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PM ‘thumbs up’ on Port of Newcastle diversification plans

PON CEO Craig Carmody met with the Prime Minister at Carrington yesterday to discuss matters critical to future investment in the region and its port.

Mr Carmody welcomed the Prime Minister’s sweeping support for the Port of Newcastle’s the $2.4 billion Multipurpose Deepwater Terminal (MDT), which is set to create 15,000 jobs and $2.5 billion of gross domestic product during the construction phase alone.

The Prime Minister’s visit is reflective of the importance of the port to the economy and the relevance of our diversification plans to the government’s agenda. Mr Carmody took the opportunity to talk to the Prime Minister about how the Commonwealth can support PON’s diversification plans in a number of areas for the benefit of the region and the nation.

The Prime Minister also discussed with Mr Carmody the National Energy Resources Australia (NERA) announcement last month of the Hunter Hydrogen Technology Cluster and the importance for the region. Mr Carmody noted that the Port had an important role to play in facilitating new and emerging markets such as hydrogen and that the Commonwealth Government’s support has been important in establishing this as a viable opportunity.

The MDT remains an exciting project that will turbo-charge the local economy to the tune of $1.3 billion and create a more cost-competitive supply chain for NSW businesses that trade internationally. Once penalties on container trade through the port are removed, Port of Newcastle is keen to move forward with the project and fuel the jobs and economic opportunities it will bring with it.

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Port of Newcastle

Port of Newcastle is a major Australian trade gateway handling 4,600 ship movements and 171 million tonnes of cargo each year. With its annual trade worth about $25 billion to the New South Wales economy, the Port enables businesses across the state to successfully compete in international markets. With a deepwater shipping channel operating at 50% of its capacity, significant port land available and enviable access to national rail and road infrastructure, Port of Newcastle is positioned to further underpin the prosperity of the Hunter, NSW and Australia. As custodians of the region’s critical asset, Port of Newcastle is diversifying its trade as it strives to create a safe, sustainable and environmentally and socially responsible Port that realises its potential.

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