Port of Newcastle will be the location of a strategic diesel storage facility by Park Fuels, with construction beginning at the Kooragang location.
The new 30 million litre tank has been jointly funded by Park Fuels and the Commonwealth Government’s $260 million Boosting Australia’s Diesel Storage program, which aims to build around 780ML of diesel storage across the country.
Park Fuels CEO, Brett Fletcher, said it was a significant milestone for the company and for the future of Australia’s fuel supplies.
“The investment that is being made by Park Fuels and the Government is recognition of the role the Hunter and Port of Newcastle play in keeping Australia’s economy running.
“Not only will it increase our local fuel storage capabilities, but it will create local jobs and ultimately increase fuel trade through the port, which will have positive flow-on effects for our entire region,” Mr Fletcher said.
Construction is expected to be completed mid next year with the new strategic storage tank operational by late 2023.
Mr Fletcher joined Federal Minister for Industry, Energy and Emissions Reduction, the Hon Angus Taylor, to turn the first sod on the 30ML storage tank at the company’s Walsh Point terminal.
“Diesel is the lifeblood of our heavy industries. It fuels our trucks, our mines and our farms, so by investing in strategic storage facilities like this one we are helping to safeguard domestic supplies during peak periods and emergencies, while also keeping costs down for consumers,” Mr Fletcher said.
“The new tank, which will be built within the grounds of our state-of-the-art terminal at Port of Newcastle, will increase our diesel storage capability at Kooragang from 54ML to approximately 84ML.
“As an Australian owned and operated company, we are proud to deliver a project that will not only double our workforce during the construction phase but will increase our existing team by 10 per cent upon completion, ensuring Australian families and industries have continual access to the fuel they need, when they need it.”
Port of Newcastle CEO, Craig Carmody, said Newcastle and the Park Fuels facility at the Port will play an important role in strengthening Australia’s fuel security by increasing the volume of diesel stock that can be kept onshore to meet future needs.
“Fuel imports have grown significantly over the past decade and now account for the Port’s second largest trade, with an increase in demand from agriculture and mining, general industry and domestic users,” Mr Carmody said.
“As operators of one of the Port’s three bulk liquid import terminals, we congratulate Park Fuels on reaching this significant milestone.”
Image courtesy of Port of Newcastle council.