Hong Kong-based Hutchison Port Holdings (HPH) has signed an agreement with Sydney Ports Corporation (SPC), Australia, that clears the way for the development and operation of the Third Terminal (T3) at Port Botany.
Paul McLeay, Minister for Ports and Waterways, held a short conference in the presence of the Honourable Kristina Keneally, Premier of New South Wales, to make the announcement on December 18.
Sydney International Container Terminals (SCTL), a wholly-owned subsidiary of HPH has been established to operate T3, the 50th port in the HPH network. The new terminal will be leased for a period of 30 years.
"Port Botany is New South Wales' premier port and one of Australia's major international container ports, handling one-third of the country's container traffic," John Meredith, Group Managing Director of HPH, said.
Construction of T3 has already begun. The new terminal is expected to commence operations in 2012. It will have a total quay length of 1,850 metres, five shipping berths and a 63-hectare terminal yard, of which HPH will operate four shipping berths with 1,300 metres of quay line and 46 hectares of yard.
