PCQ BOARD VISITS ABBOT POINT
The Ports Corporation of Queensland (PCQ) Board of Directors will undertake an inspection of the Abbot Point coal export terminal today as part of a regional trip.
PCQ, as the owner of Abbot Point terminal, is currently looking at expansion possibilities for the coal export facility.
In Bowen this morning the PCQ Board will meet key local stakeholders, with an inspection of the terminal to follow.
Recently, the State Government announced support for initial planning into expansion options at Abbot Point.
As part of the planning process, PCQ recently commissioned a master plan to look at options for expanding the Abbot Point terminal, as a result of the increasing demand for coal exports.
This master plan outlines a number of stages of development that would allow the terminal to be expanded up to 50 million tonnes per annum, if demand for exports through the terminal increased.
The final decision on any expansion would depend on formal commitments from customers to put more coal through the terminal and to enter commercial agreements that underpin the viability of any expansion.
Any expansion would be subject to PCQ obtaining approvals from its State Government shareholders.
Abbot Point (Stage 1) started operation in 1984 and has not undergone any significant expansion since its original commissioning. Current capacity is about 15 million tonnes. The second stage, to increase this by about 10 million tonnes, would involve faster stacking and reclaiming capacity, more room for stockpiles and improved conveyor systems.
To allow for this next stage, PCQ has sought environmental and planning approvals under the Integrated Planning Act (IPA), before seeking State Government approval to proceed with the actual construction phase.
Should it proceed, the Stage 2 expansion would cost about $100 million.
The port is already a significant contributor to the local economy as illustrated in a study conducted by PCQ in 2002.
During the 2001-2002 financial year, Abbot Point generated a total of $102.2 million in economic output and accounted for 162 jobs directly with another 268 created by flow-on port activity.
ends
23 February 2005
For further information:
Gary Campbell
Corporate Relations Manager
3224 4346
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