Hutchison investing A$200 million in Port of Brisbane box terminals

Hutchison investing A$200 million in Port of Brisbane box terminals    Hutchison Port Holdings (HPH) today signed an agreement to lease two new container berths — Berths 11 and 12 — from the Port of Brisbane Corp. (PBC) located on Australia’s East Coast.

(From left to right) Jeff Coleman, Chief Executive Officer, Port of Brisbane Corporation; John Mickel, the Minister for Transport, Trade, Employment and Industrial Relations, Queensland; John Meredith, Group Managing Director, Hutchison Port Holdings; Anna Bligh MP, Premier of Queensland; David Harrison, Chairman, Port of Brisbane Corporation; and Raymond Law, Managing Director, Australasia & North Asia,Hutchison Port Holdings, at the signing ceremony

   The Hong Kong-based global terminal operator has established Brisbane Container Terminals (BCT) to operate the terminals, which will be leased for 42 years. HPH said it would invest more than A$200 million ($177.8 million) during that period.
   Construction work on the terminals has already begun, with Berth 11 expected to be operational by 2012 and Berth 12 set for a 2014 start. Upon completion, BCT will have a total area of 26 hectares, a quay length of 660 meters with a depth alongside of 14 meters.
   “As Australia's third-largest, and fastest growing, container port, Port of Brisbane plays an important role in facilitating the increasing trade activities between Australia and Asia, particularly China. We are delighted that this milestone agreement will also support the economy of Brisbane through continuous investment and the creation of local employment opportunities,” said John Meredith, group managing director of HPH.