Townsville Port Booming with Renewable Pipeline
The Port of Townsville is receiving an increase of business due to the Queensland Government proposed $4.2 billion pipeline of renewable energy projects underway or financially committed across Queensland.
The Queensland Government highlighted the significant benefit renewable energy investment would have on the local economy and its implications for North Queenslanders industry and employment. In addition, more than 60% of the imports this financial year have been for renewable energy projects at the Port of Townsville.
To support continued growth, the Queensland Government additionally highlighted channel-widening of the Port of Townsville. Further, renewable energy companies are ensuring their imported components are directed through the Port. A recent example includes the shipment of thirty six blades and 3,500 tonnes of cargo which will form part of the world’s first hybrid large-scale power plant. The Queensland Government have committed to a 50% renewables target by 2030 to increase investment in renewables and grow jobs in and servicing the renewable energy industry.
To support growth of the Queensland economy, the Government have investment in port lands and berths to increasingly improve operating efficiencies. The Government Budget allocated $18.6 million for 2018-19 out of a $27.3 million total spend to commence acquisition of Berth four cranes and development of associated cargo terminal areas to cater for future trade growth. Increased infrastructure investment will support growing Port activity, greater job opportunities and a greater movement of material at a faster rate.
The Queensland Government indicated the below as key projects for North Queensland in Budget 2018-19:
- $841.3 million spend on infrastructure in 2018-19, supporting 2,800 jobs
- $225 million over four years to implement the recommendations of the Townsville Water Security Taskforce
- $250 million for the new North Queensland Stadium
- $983.8 million for the Townsville Hospital and Health Service including funding for a new MRI machine and a new Palm Island Primary Health Care Centre
- $3.1 million for a feasibility study into a proposed lithium-ion battery factory for Townsville
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