Newcastle independent grain terminal progresses
Newcastle Agri Terminal, an independent company developing a $28m grain terminal, reports it has secured project funding.
Grain exporters Glencore Grain, Olam and CBH Grain are set to invest, while the executive team of Jock Carter and Martin MacKay will stump up their own cash.
Newcastle Agri Terminal (NAT) previously secured support from Newcastle Port Corporation. Construction is set to commence in April 2012 and the facility is slated to be operational by mid-2013.
According to NAT executive director, Jock Carter, the new terminal will create competition amongst NSW port operators for the first time. He said the facility will provide Australian grain growers more efficient access to export markets and an alternative to GrainCorp.
“This is the first major grain port development in NSW in over 25 years and it has the potential to reinstate Newcastle as the principal grain port of east coast Australia.
“If you have one company that controls the ports, and because it is a cornerstone of the supply chain, it makes it very difficult for other people to invest in the rail resources or the up country facilities.
“That is because you are always beholden to a monopoly competitor. We think the NAT will encourage innovation and investment.”
The terminal will have 60,000t of storage and capability to unload trains and load Panamax vessels at 2,000tph.
The terminal will be located on what is now vacant port-zoned industrial land at Carrington, use existing rail infrastructure and share access to the Dyke No.2 berth.
NAT’s successful submission to Newcastle Port Corporation included rail receival facilities, conveyors, two 20,000t and three 6,780t silos and shiploading facilities.
Contact: Jock Carter, email: email@example.com