Queensland considers private funding for new coal terminals

Australia: The Queensland state government is exploring the option of two privately funded new coal terminals in the state’s central region.

An industry group of 17 companies interested in the new terminal is talking to private financiers about a model. The other option being considered is expanding Port Alma into coal exports. This comes with plans to boost exports to Asia, with the State Government planning to double production of coal by 2030, according to the Australian Financial Review. Queensland premier Anna Bligh predicted the state’s coal exports would hit 200 million tonnes a year within the next 18 months, and 370 million tonnes by 2030. Coal companies are hoping that the US$3.85 billion coal terminal at Gladstone and a possible new terminal at Port Alma would help to ease the struggle of the key ports and Queensland Rail to meet capacity targets. The Government is keen for the private sector to fund the Wiggins Island terminal at Gladstone, which is expected to ship 25 million tonnes of coal by 2012, with the aim of eventually transporting 84 million tonnes a year. The first stage of the development would cost US$1.35 billion. An industry group of 17 companies interested in the new terminal is talking to private financiers about a model. The other option being considered is expanding Port Alma into coal exports.

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