Victorian government to invest in massive port expansion8 November 2012
Heavy government investment to nearly quadruple cargo-handling capacity at the Port of Hastings in Victoria, Australia is expected, after the port’s development agency highlighted government commitment to the project.
According to the Port of Hastings Development Agency, the government of Victoria is 'committed' to expanding the port's capabilities to accommodate handling of the 8 million twenty-foot equivalent units (TEU) throughput expected at the port by 2035.
The government owned development agency, which was established in 2010, has begun work on early assessment and planning reports for the project.
Local media reports highlight that some experts believe it may cost more than AUD 12bn (USD 12.26bn), including the expense of new transport links.
Australian national daily newspaper, The Age, reported that Australian ports minister Denis Napthine said: "The government is proceeding as planned, exactly on track, with the plans to develop Hastings as a new container port for Melbourne and Victoria. Any suggestion to the contrary is simply wrong."