The NSW Governor’s signature is the only thing that stands in the way of Newcastle getting a huge container terminal.
The Port of Newcastle (Extinguishment of Liability) Bill 2022 was passed through the Upper House last night after getting through the Lower House earlier this week.
The bill will effectively unshackle the Port of Newcastle from a crippling compensation deal that would hamper the expansion of the container terminal industry in Newcastle.
Independent Lake Macquarie MP Greg Piper is behind the bill which will remove a cap on the Port, signed off by the NSW Government and NSW Ports back in 2013, which imposes financial penalties on Newcastle Port, if it exceeds 50,000 movements per year.
The deal created a monopoly of container handling in the state for Port Botany and Port Kembla.
In the Upper House last night, NSW Labor attempted to get amendments to the legislation passed but they were voted down.
Parliamentary Secretary for the Hunter Taylor Martin enthusiastically supported the bill last night.
“Port of Newcastle is the largest coal export terminal in the world. It is the backbone of the Hunter economy and a container terminal there will help diversify its operations into the future.
“Diversifying the Port is key not only to the long term future of the Port itself, but diversifying plays into the largest strategy for the wider Hunter region as we grow a larger economic pie for the region into the future.”
He added that it’s a huge win for agricultural producers and manufacturers in the region.