The Federal government is investing $75 million for the Townsville Port expansion to ensure the port remains globally competitive and has the capability to host large cargo and passenger ships, while creating hundreds of jobs and increasing trade opportunities for the state’s north.
Delivered over six years, the Townsville Port expansion project will create 120 full time jobs during construction, support 245 ongoing jobs throughout the state, and provide more than $380 million in benefits over the next 40 years.
“The Port of Townsville Channel Capacity Upgrade project will provide that opportunity and help secure the future for the port,” the government said in a statement.
“The current size of the channel restricts access to the port, forcing larger vessels to bypass Townsville, including cruise ships, limiting North Queensland’s critical role in the supply chain.
“Cruise ships carrying more than 3,000 passengers will be able to access the Port of Townsville – up from 1,500 – boosting opportunities for tourism and access to the Great Barrier Reef and outback.”
More than doubling the size of container ships that can enter the port will allow for more goods to be imported and exported, while also maximising the capacity of existing infrastructure. This will mean reductions in the costs of imported goods on the table in Townsville and remove up to 8,230 B-Double trucks per year off the roads between Brisbane and Townville.
“This is yet another example of the Coalition government’s commitment to building a stronger Australia and creating more jobs,” the government continued.
“By delivering a strong economy, we are able to invest in projects – like the Townsville Port Expansion – that ensure our regional cities go from strength to strength and create more opportunities for their households and businesses.
“The government is committed to its investment of $250 million through Australia’s first City Deal to develop and diversify the Townsville economy, which is a major catalyst for industry and local jobs growth – a key focus for the government.”
The funding committed through the City Deal to the development of the Townsville Eastern Access Rail Corridor will in-part be reallocated to support the Port expansion. The remaining funding will remain in Townsville on other opportunities, which will deliver a long-term strategy for growth, consistent with the City Deal.