We will work with the Port of Townsville Limited to finalise the Business Case for submission to Queensland Shareholding Ministers which should clearly outline the direct and indirect benefits of widening the existing navigational channels, with a goal to ensuring growth of trade and maximising the efficiency of existing port infrastructure.
Finalisation of the Business Case will also require an articulation of the impact of international shipping trends on the sustainability of the Port of Townsville, and how the channel capacity upgrade could contribute to improving the efficiency of freight movement in and out of North Queensland.
Progress to date
On 2 May 2017, the Port of Townsville Limited submitted the business case and for the Channel Capacity Upgrade Project for Queensland Government Shareholding Ministers’ consideration. In June 2017, the Queensland Government announced funding of $75 million as a down payment towards the project (subject to finalisation of the business case and EIS), which will boost trade, create 120 full-time jobs and support more jobs through industry.
The Port Channel Capacity Upgrade is the first stage of the Port of Townsville Port Expansion Project. On 29 September 2017, the Queensland Coordinator-General
provided State environmental approval for the Port Expansion Project. On 27 October 2017,
the Queensland Shareholding Ministers approved the business case and affirmed support for the project.
The Commonwealth Government approved the EIS on 5 February 2018.
Q4 2017 — Finalisation of business case and partial funding commitment from the Queensland Government.
Q1 2018 — Commonwealth approval of the Environmental Impact Assessment (EIS).
Next steps and milestones
The Queensland Government will work with the Port of Townsville Limited and the Commonwealth Government to progress funding and finance considerations.
Q1 2018 — The Queensland Government to commence discussions with the Commonwealth and the Port of Townsville Limited concerning funding and/or financing considerations.
Led by the Queensland Government through the Port of Townsville Limited.