$55 million upgrade for Gladstone's growing port
A 35-year-old asset worth millions to Gladstone will have a $49.7 million makeover this year, courtesy of the Queensland Government.
For the ninth consecutive year the Gladstone Ports Corporation has received the largest investment for the region in the State Budget.
This year $49.7 million was allocated to upgrades to the RG Tanna Coal Terminal, as part of a $226 million five-year project.
The Gladstone Ports Corporation was also handed $5.6 million to upgrade Fisherman's Landing.
The money is used for upgrades to the terminals to prepare for future growth at the port.
It follows another record-breaking year in 2015-16, where 116.7 million tonnes was shipped out of the Port of Gladstone.
In comparison, in 2011-12 GPC had a tonnage throughput of 84.5 million tonnes.
Gladstone Ports Corporation chief executive Peter O'Sullivan said upgrading RG Tanna Coal Terminal and Fisherman's Landing were ongoing projects.
"This is not one individual project but a number of projects encompassing a range of assets which require planned reinvestment over time," Mr O'Sullivan said.
"These works will ensure the longevity of the terminal and enable it to continue to maintain and increase throughput."
The Gladstone Ports Corporation, which employs about 750 people, has the fourth largest coal export terminal in the world by volume.
The State Government contribution comes off the back of GPC paying $47.9 million in taxes last year, up from $42.7 million the year prior.
"The RG Tanna terminal is a large industrial site and infrastructure is continually being refurbished or replaced to ensure the terminal remains fit for purpose and operates efficiently," Mr O'Sullivan said.
"GPC undertakes works at Fisherman's on a regular basis to maintain the existing infrastructure, and to prepare areas for future industry opportunities."
Fisherman's Landing was once mooted as the potential location of Gladstone's fourth LNG export plant.
But the long-awaited project fell through, with Liquefied Natural Gas Limited announcing last month it would no longer go ahead with it.
"The works to be conducted go toward the ongoing development of the Fisherman's Landing region," Mr O'Sullivan said.
"Current funding is for concrete remediation on wharves, service corridor road and associated drainage and berth works."