07/15/2021 | Press release | Distributed by Public on 07/15/2021 01:11
'Port of Newcastle is thrilled it will play a vital role in boosting Australia's fuel reserves following the Federal Government's announcement of a $260 million package to boost long-term fuel security across the country.'
'Port of Newcastle welcomes the Federal Government's funding investment in the fuel storage capability of the region, the creation of jobs in Newcastle, the strengthening of Australia's fuel security and the increase of fuel trade through the Port of Newcastle.'
'The Federal Government announcement will support critical infrastructure investment at the Port and see current tankage capacity across the Port's three bulk fuel terminals grow from 266 Megalitres to 624 Megalitres at the completion of the construction phase.'
'Today's announcement is further proof in the value Port of Newcastle's resources offer in keeping Australia's economy running.'
'The awarding of grants to two projects in the Hunter is recognition of the importance the Hunter, and the Port of Newcastle, plays in supporting NSW and Australia's economic strength and performance.'
'The Port of Newcastle is thrilled to be in a position to strengthen Australia's fuel security by investing in the expansion of diesel, petrol and aviation jet fuel reserves at our dedicated bulk-liquids facilities
operated by Stolthaven and Park Fuels.'
'Port of Newcastle received the largest allocation of these grants from the Federal Government - a clear vote of confidence in our region and the Port of Newcastle's capability and ability to diversify.'
'Through these grants, Port of Newcastle will play a significant part in increasing the volume of diesel stock we can keep onshore, create 130 local jobs during the construction phase and help keep fuel prices low for consumers.'
'The awarding of these funding packages to these Port of Newcastle based companies is another critical step forward in diversifying trade to create a safe, sustainable and environmentally and socially responsible port for generations to come.'
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