News 
 Local News 
 News 
 News 
 $900 million second stage for third coal-loader 

$900 million second stage for third coal-loader

10 Aug, 2010 09:50 AM
NEWCASTLE’S third coal-loader has announced a $900 million second stage that will increase its capacity by 75 per cent to 53 million tonnes a year.

The first stage of the Newcastle Coal Infrastructure Group terminal, which can handle 30 million tonnes a year, was officially opened in May and the decision to immediately proceed to stage two means that the construction workforce of up to 600 will be kept in place for the coming two years of work.

NCIG chairman and former NSW treasurer Michael Egan said the $900 million came from a consortium of Australian and overseas financial institutions and other investors.

NCIG’s move to 53 million tonnes means the port will have an export capacity of more than 180 million tonnes a year by 2013.

Exports this year are expected to total about 100 million tonnes.

Print
Increase Text Size
Decrease Text Size

comments


Date: Newest first | Oldest first
Well done at least some people are looking to the future !!!!
Posted by small fry, 10/08/2010 10:24:45 AM, on The Herald
The Greenies won't like it but it is great news. It will help cut the turn around for the ships that have to anchor off shore for such a long time.
Posted by oldtimer, 10/08/2010 11:09:36 AM, on The Herald
errrr.... this is not good news for me... i get nothing out of this except coal dust and a lunar landscaped hunter valley. what additional transport infrastructure will be built to deal with this increased loading capacity?
Posted by judgedredd, 10/08/2010 11:14:23 AM, on The Herald
It's just a shame that some of the profitsfrom export dollars does not come back to the Hunter.
Posted by intouch, 10/08/2010 11:42:48 AM, on The Herald
Buy now, pay later.
Posted by Peter, 10/08/2010 11:51:27 AM, on The Herald
move the stinky coal loaders out of Mayfield East and me happy. Move em ANYWHERE, but NIMBY!
Posted by Mayfield East res, 10/08/2010 11:54:16 AM, on The Herald
Drove across Kooragang the other day. You can see what the recent extensive land clearing has been all about. Much of the island now seems to consist of massive piles of coal behind a very long fence. God knows what happens when the wind gets up. What was all that about a Hunter wetlands conservation area? A pretty bad joke.
Posted by pattythepleb, 10/08/2010 12:15:03 PM, on The Herald
Oldtimer, you went quiet at Mudgee? I see all is happy at Running stream will they thrive to? You do read the Newcastle- Hunter News. All isn't happy there! Again we see it differently. I expect that the number of ships that wait off shore will actually increase as the coal traders increase the amount of sales in proportion to the port capacity. Just like a bigger doctor's surgery with more doctors just needs a bigger waiting room. Same deal just more and & bigger. The real question is where will the black stuff come from?. Whose community will be killed by Mining? who will be evicted from their farms or have their farm rendered worthless? and be forced to sell to the only available buyer for a non-disclosed amount. Is the larger port to accommodate the current needs or is it to promote more mines. Has the State Gov. already budgeted for the royalties and marked on their map the farms, water ways & communities they will sell off to King Coal to feed the new loader? Never once have I said current mines should be closed but I definitely think we all can see its a cash grab with no regard for the communities destroyed by this sick Pro-Coal State Gov. signed - semi-green
Posted by SPARKS, 10/08/2010 12:39:34 PM, on The Herald
Classic supply and demand theory in action: a lack of coal-loaders is limiting supply whilst demand (& price) is high. Soon the additional coal-loader will increase supply but will the global demand (& price) for coal remain high? Crystal ball...
Posted by WP, 10/08/2010 12:51:32 PM, on The Herald
So a consortium of Australian and overseas financial institutions now owns half the port of Newcastle. I wonder what the ratio of ownership is ???
Posted by Rose- Lake Macquarie, 10/08/2010 1:24:47 PM, on The Herald
1 | 2 | 3  |  next >

post a comment


Screen name  *
Email address  *
Remember me?
Comment  *
 
We invite and encourage our readers to post comments. Comments are moderated and will appear as soon as our editor has approved them. When posting comments you agree to be bound by our Terms and Conditions.

Most popular articles


 
Landcom Sanctuary 190512
 
 
 
 


Newcastle Herald







Weather brought to you by:

Weatherzone

Classifieds

Front Page

Current Issue
Privacy Policy | Conditions of Use | Advertising Terms | Copyright © 2012. Fairfax Media.
 SEND...
 SAVE...
 SHARE...