The Dalrymple Bay Terminal (DBT) in central Queensland will get a major upgrade in the form of a new shiploader and reclaimer.
Building works for both the shiploader and reclaimer will commence this year and are expected to take three to four years to complete.
The DBT ships coal from operations in the Bowen Basin coal fields to global export markets, playing a vital link in the global steel making and mining chain.
The work will be undertaken by Dalrymple Bay Infrastructure with the expected costs totalling over $250 million.
The project will be funded through a combination of existing debt capacity and internal funds from operations.
“To ensure that the Dalrymple Bay Terminal continues to accommodate metallurgical coal exports from the Bowen Basin for use in steel production that will enable the world’s transition to a low carbon future, DBI will focus on its investment in the pipeline of NECAP projects required at DBT over the coming years,” Dalrymple Bay Infrastructure managing director and chief executive officer Anthony Timbrell said.
“Our NECAP program will continue to ensure that terminal capacity remains available to meet the needs of our customers while delivering meaningful organic growth for security holders.”
The terminal is owned by the Queensland Government and has been leased to Dalrymple Bay Infrastructure on a 50-year lease.
“While our primary goal is to export coal, our terminal is also focused on creating a sustainable future and enriching our local area,” DBT said on its website.
“We place enormous value on our community at Hay Point, and take pride in supporting local projects, community groups, clubs and organisations.”