IPART orders Port of Newcastle to pay $13M in compensation for Mayfield container terminal development.
The Independent Pricing and Regulatory Tribunal (IPART) has ruled that the Port of Newcastle must pay $13 million in compensation to the state government, paving the way for the development of a large-scale container terminal at Mayfield. This decision comes after legislation passed in November 2022, which allowed the Port of Newcastle to remove penalties on competing with Port Botany and Port Kembla for container traffic. The $13 million figure is significantly lower than previous estimates of up to $1 billion, making the project more viable.
April 04, 2024
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