Port Waratah Coal Services has announced it will NOT proceed with the development of a fourth coal terminal in Newcastle.
PWCS says, while the industry is currently strong, its existing loaders at Kooragang and Carrington should be sufficient to meet future export demands.
“With significant growth capacity available in the existing terminals, we do not expect that the conditions to support an investment of the large and long-term nature of Terminal 4 will be in place before the development approval lapses in September 2020.” PWCS Chief Executive Officer Mr Hennie du Plooy said.
The company’s lease to develop the T4 loader at Kooragang, at an estimated cost of nearly $5-billion, will lapse in August next year.
Green groups have welcomed the decision.
