Sugar Terminals Limited (SUG.NSX) Milestone at Port of Bundaberg - Common Infrastructure
Sydney, Australia, Dec 3, 2021 - (ABN Newswire) - A NEW multi-million-dollar project to build Common User Infrastructure at the Port of Bundaberg is a step closer, with the detailed plans complete and tenders now open to local businesses.
Gladstone Ports Corporation (GPC) and Sugar Terminals Limited (STL) signed a Memorandum of Understanding (MoU) in 2019 to expand on existing cargo handling capabilities and have been working tirelessly to deliver the new enabling infrastructure.
Once complete the Common User Infrastructure will provide an opportunity for the Wide Bay region to increase exports of bulk commodities including minerals, timber products (wood pellets and woodchip) and agricultural products such as grains and pulses.
It's expected the new capability at the Port of Bundaberg will increase economic activity for the Wide Bay region and provide opportunities for local producers to compete in world markets.
Member for Bundaberg Tom Smith said the call for tenders was a positive step forward for the region.
"Delivering improved infrastructure that will support our export operations is a big boost for Bundaberg and for Queensland as a whole," Mr Smith said.
"This opportunity brings with it a pipeline of jobs from design, installation and commissioning - boosting our economic recovery from COVID-19.
"I look forward to seeing this project progress, to the benefit of our community and local industries."
Port of Bundaberg Manager Jason Pascoe said GPC and STL were now on the hunt for bids from local businesses before tenders close on 21 January 2022.
"It's a really exciting time at the Port of Bundaberg," Mr Pascoe said.
"The plans are now complete and we're looking to engage local businesses to participate in formal tender processes for the supply, fabrication, installation and commissioning of a new common user system at the Port of Bundaberg," he said.
GPC Acting Chief Executive Officer Paul Heagney said the detailed plans signalled a major milestone for the project.
"We've been working around-the-clock with STL on this project and to now go to market with a detailed design is a great achievement," Mr Heagney said.
"The project is in conjunction with our strategic planning work to promote the Port of Bundaberg and surrounding State Development Area and we're excited to see the project stimulate industry growth for the region," he said.
STL Chief Executive Officer David Quinn said the project, following final approvals, would generate significant employment opportunities for the region and attract new commodities to the Port.
"The new infrastructure will have the capacity to provide customers with competitive loading rates and pricing. This will allow the region to develop projects with certainty on costs and Port availability," Mr Quinn said.
"The project has been designed to complement our existing sugar handling operations which will minimise costs for all customers" he said.
About Sugar Terminals Limited:
Sugar Terminals Limited (NSX:SUG) (STL) owns and operates six bulk commodity terminals in Queensland and plays a vital role in Australia's sugar market, handling over 90% of the raw sugar produced in Australia each year.
STL's terminals provide 2.5 million tonnes of storage capacity and handle more than 4.6 million tonnes of commodities each year. In addition to around 4 million tonnes of bulk sugar, STL also handles more than half a million tonnes of other commodities annually, including molasses, wood pellets, gypsum and silica sands.
STL has over $350 million in assets in strategic port locations across Queensland. We have in place 100 year leases with the port authorities at each of our six terminals. These leases include rolling options to extend for a further 100 year period.
Corporate Affairs Team
Gladstone Ports Corporation Limited
Phone: 07 4976 1493
Mobile: 0467 948 175
Sugar Terminals Limited
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