Shadow Minister for Regional Transport and Roads and Upper Hunter ³Ô¹ÏÍøÕ¾s MP, Dave Layzell, has welcomed an IPART decision that will allow more shipping containers to be moved through the Port of Newcastle.
Mr Layzell said the Independent Pricing and Regulatory Tribunal’s finding that a one-off, $13 million compensation payment to remove the liability placed on Newcastle once it exceeded a cap on container movements is fair, reasonable and a win for common sense.
“I hope this now allows the Port of Newcastle to take a long-awaited step forward on progressing plans to diversify its business for the future economic prosperity of the Hunter Region and northern NSW,” Mr Layzell said.
In October 2022, Mr Layzell supported the Port of Newcastle (Extinguishment of Liability) Bill by Independent Lake Macquarie MP Greg Piper when the Private Members Bill was introduced into the NSW Parliament.
The Bill proposed an Act to establish a process for the extinguishment of certain liabilities of the operator of the Port of Newcastle in relation to the Port of Newcastle Port Commitment Deed, and for related purposes.
“Here we are 18 months after the legislation was passed with IPART having done its job, I hope we have now reached the delivery stage on a solution that is in the best interests of the people of the Upper Hunter and the northern half of our state more broadly,” Mr Layzell said.
“As I noted in my contribution to the debate on the Bill in the Legislative Assembly, it is important for the Upper Hunter that the private sector can make investment decisions and I am optimistic IPART has now cleared the way for the Port of Newcastle to make a significant one for the region and NSW.
“We have a great vision for manufacturing in the Upper Hunter and in the Hunter Valley by making the best use of our assets to build new industries, today’s decision will hopefully be the trigger to get that industrial restructuring on the road to reality.”
