Port of Gladstone




PROJECT
PIPELINE
STATUS

Prospective pipeline

Credibly proposed

Announced

Under procurement

Preferred bidder announced

Recently closed
Port of Gladstone
STATUS

Prospective pipeline

Greenfield (construction) or brownfield (government asset divestment) projects needed or likely to occur within the next five years, but is not formally proposed by a state, territory or major local government.

Credibly proposed

The project or divestment is supported by a state, territory or major local government, is subject to studies or other processes (such as pre-feasibility or scoping studies or business case development), and is likely to proceed to formal announcement.   

Announced

The project has a firm commitment and timeline from a state, territory or major local government, but has not yet entered the market.

Under procurement

The project or transaction is under procurement (such as a call for Expressions of Interest, requests for tender, or another offer to the market).

Preferred bidder announced

A preferred bidder has been selected and is in exclusive negotiations.

Recently closed

Projects that have progressed to contractual close remain on ANZIP for 12 months.

ANZIP is focused only on major infrastructure activity, above the following thresholds:

Australia

Construction projects: > AUD$300m

Investable greenfield & brownfield: > AUD$100m

New Zealand

All greenfield and brownfield projects and divestments: > NZD $100 million


STATUS: Prospective pipeline
VALUE: $3.7bn AUD
SECTOR: Other transport
JURISDICTION: QLD
TYPE: Brownfield

The Port of Gladstone is Queensland's largest multi-commodity port, handling over 30 different products, with coal (70 per cent) and alumina (24 per cent) accounting for the bulk of trade.

The Port's trade is also expected to rise sharply in coming years as nearby liquefied natural gas (LNG) plants come on-line. The Port, which had a throughput of 99 million tonnes (Mt) in FY2014/15, is wholly owned by the Queensland Government through the Gladstone Port Corporation (GPC). GPC also operates the Port of Bundaberg, situated 19 kilometres from the City of Bundaberg, and the Port Alma Shipping Terminal, located 62 kilometres east of Rockhampton.

While the State Government has ruled-out asset sales, the sale or lease of the Port of Gladstone remains a likely medium term proposition in the context of high public sector debt levels and the concurrent need for infrastructure investment.

The positive precedent set by port sales in Queensland (Port of Brisbane) as well as other states (ports of Newcastle, Darwin, Botany, Kembla and most recently Melbourne) is expected to be a further driver. GPC reported revenues of $404 million in FY2014/15, and assets of circa $2 billion.

*Indicative valuation based on recent transactions of similar assets (EBITDA multiple of 17.5)


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