Chinese multi-sector company Landbridge Group has announced a plan to invest $25m to develop Australia’s Darwin Port as part of a huge expansion of the port’s operations, including a one-kilometer extension of its quay line.
The Chinese firm sparked controversy in Australia when it won control of the port for 99 years under a $506m lease agreement in October 2015.
Landbridge Group said the development plan would meet future increases in cargo volumes in the areas of dry bulk exports, liquid bulk imports, live cattle and container and general cargo throughput.
According to Terry O’Connor, chief executive at Darwin Port, some works are already underway. He said the plan would eventually quadruple the size of the existing container yard. The port development projects also include a refrigerated container park, a strategic hardstand development, a harbour support vessel facility and upgraded cruise facility.
“For our stakeholders, the Port Development Plan 2016 represents a long term vision that has been developed with their business in mind and we look forward to ongoing partnerships well into the future,” O’Connor said.
In May, Landbridge Group also took over Panama’s largest port, Margarita Island, where it plans to build a modern deep-water port.
