Sydney container terminal expansion approved24 July 2012
AUD 348M (USD 362M) will be spent to redevelop and expand Asciano's container terminal at Port Botany in Sydney, Australia, the company announced yesterday.
Asciano will develop the recently leased Knuckle capacity extension as part of the expansion, which also includes new terminal handling technology, cranes and straddle carriers.
According to Asciano, the expansion is set to increase capacity from 1.15 million to 1.6 million twenty-foot equivalent units (TEU) per annum. The project includes the installation of world-leading automated straddle carrier technology. It is due to be completed during 2014.
"The redevelopment of our Port Botany container terminal together with the previously announced nine new cranes and additional equipment at our Brisbane, Melbourne and Fremantle and Sydney container terminals will continue to drive productivity on Australian wharves towards best practice," said John Mullen, CEO and managing director of Asciano.
Approximately 270 positions are expected to be made redundant by the end of the project in mid-2014.
Mullen added: "We are committed to working closely with all employees impacted by the decision and will immediately commence consultation with our workforce and their representatives on the likely implications on future labour requirements and working arrangements. We will be going above and beyond to invest significantly in and support our employees throughout the transition period."