PENINSULA PORTS GETS THE FINAL TICK OF APPROVAL
FREE Eyre Limited is pleased to inform our shareholders and Eyre Peninsula farming community that the Port Spencer grain port project, Peninsula Ports, has been approved by the state government, and will commence being built soon.
After rigorous consultation with our shareholders, the EP community, Government and local businesses, we are pleased to finally see all the hard work come together for the benefit of local growers and the wider Eyre Peninsula community.
The approval puts Peninsula Ports on track for completion ahead of the August 2021 grain harvest.
Eyre Peninsula, in South Australia, produces over 2.6 m tonnes of grain, on average, per year.
85% of this is exported, bringing significant income to the region.
This unique market dynamic also presents significant challenges.
As supply chain pressures increase, there is a need for more efficient options for local producers through which to access global markets.
When completed, Port Spencer will be one of two deep water ports in the region enabling large Panamax vessels (carrying up to 80,000 tonnes of grain) to be loaded efficiently and cost effectively.
It will create up to 150 jobs during construction with a further 20 ongoing local operational jobs.
Read the full media release here: Peninsula Ports media release