[29 January 2008 – Hong Kong] Hutchison Port Holdings (HPH) is pleased to announce that it has signed an agreement to lease two new container berths (Berths 11 and 12) from the Port of Brisbane Corporation (PBC). To celebrate the event, a signing ceremony, presided over by Anna Bligh MP, Premier of Queensland, and John Mickel, the Minister for Transport, Trade, Employment and Industrial Relations, was held today in Brisbane.
Brisbane Container Terminals (BCT), a wholly-owned subsidiary of HPH, has been established to operate the new container-handling facility. The investment in the new terminal, which will be leased for a period of 42 years, will exceed A$200 million.
Officially welcoming HPH to Brisbane, Mr. Mickel said, “In percentage terms, the Port of Brisbane is Australia’s fastest-growing container port and having a global player like HPH come on board is a significant investment during this time of rapid expansion.”
Commenting on the latest addition to the network of ports, John Meredith, Group Managing Director of HPH said, “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.”
PBC Chairman David Harrison said he was pleased to welcome HPH as a new operator at the port. “The significant investment from HPH, which will exceed A$200 million, is a clear vote of confidence in our ability to expand port facilities to meet rapidly increasing demand,” Mr. Harrison said.
Construction has already begun, with Berth 11 expected to be operational by 2012 and Berth 12 in 2014. Upon completion, BCT will have a total area of 26 hectares, a quay length of 660 metres with a depth alongside of 14 metres.