Queensland's port of Bundaberg will merge with the Port of Brisbane Corporation (PBC) to become a wholly-owned subsidiary.
The 110 year-old Bundaberg port will continue commercial activities under its own name but with the weight of PBC's $1.6 billion in assets behind its every trade and enterprise.
Queensland's Minister for Transport and Main Roads Paul Lucas said that “a proud chapter at the port of Bundaberg has come to a close, but at the same time an exciting new page has turned for the Bundaberg Port Authority.”
He added that “the port of Brisbane is Australia's fastest-growing capital city port and has an impressive record of trade growth and project development. The merger will give Bundaberg port the strategic mass with the security of a strong balance sheet to chart an exciting course ahead.”
Bundaberg port sees an average of 24 ship calls per year compared to Brisbane's average of 2,600 ship calls per year.
Lucas also said that projects to enhance port infrastructure and rail networks leading to the port are in the pipeline.
The 110 year-old Bundaberg port will continue commercial activities under its own name but with the weight of PBC's $1.6 billion in assets behind its every trade and enterprise.
Queensland's Minister for Transport and Main Roads Paul Lucas said that “a proud chapter at the port of Bundaberg has come to a close, but at the same time an exciting new page has turned for the Bundaberg Port Authority.”
He added that “the port of Brisbane is Australia's fastest-growing capital city port and has an impressive record of trade growth and project development. The merger will give Bundaberg port the strategic mass with the security of a strong balance sheet to chart an exciting course ahead.”
Bundaberg port sees an average of 24 ship calls per year compared to Brisbane's average of 2,600 ship calls per year.
Lucas also said that projects to enhance port infrastructure and rail networks leading to the port are in the pipeline.