Australia's Victoria state has announced a US$1.23 billion upgrade for the Port of Melbourne, the nation's busiest container port, reported DowJones Newswires.
Victoria Premier Ted Baillieu said the centrepiece of the project would be the construction of a new container terminal at Webb Dock while infrastructure upgrades at Swanson Dock would increase capacity at the port's existing container terminals.
"This major infrastructure project is an exciting opportunity to cement Victoria's reputation as the freight and logistics capital of Australia," he said in a statement.
The project will provide 700 direct jobs and 1,900 indirect jobs across Victoria and ensure Victoria is well placed to cater for the forecast demand in container freight, he said.
Melbourne Port handled a record 2.5 million containers last fiscal year ended June 30, 2011, and has set new trade records in recent months, he said.
Container movements through Melbourne Port are rising at more than six percent a year and are forecast to reach eight million TEUs by 2035, he said.
The competitive bidding process for the right to build and operate a new terminal is expected to attract significant interest from industry, Victoria's ports minister, Denis Napthine, said in a statement.
Victoria Premier Ted Baillieu said the centrepiece of the project would be the construction of a new container terminal at Webb Dock while infrastructure upgrades at Swanson Dock would increase capacity at the port's existing container terminals.
"This major infrastructure project is an exciting opportunity to cement Victoria's reputation as the freight and logistics capital of Australia," he said in a statement.
The project will provide 700 direct jobs and 1,900 indirect jobs across Victoria and ensure Victoria is well placed to cater for the forecast demand in container freight, he said.
Melbourne Port handled a record 2.5 million containers last fiscal year ended June 30, 2011, and has set new trade records in recent months, he said.
Container movements through Melbourne Port are rising at more than six percent a year and are forecast to reach eight million TEUs by 2035, he said.
The competitive bidding process for the right to build and operate a new terminal is expected to attract significant interest from industry, Victoria's ports minister, Denis Napthine, said in a statement.