Fortescue welcomes increase in Port capacity

Nov 15, 2015

Fortescue Metals Group (ASX:FMG) has welcomed the announcement by the Western Australian Minister for Transport Dean Nalder that forecast capacity in the Port of Port Hedland would increase to 577 million tonnes a year, an increase of 82 million tonnes per annum or 16 percent, over the next three years. 

“We applaud the work by the Pilbara Ports Authority (PPA) to remodel and upgrade the D class capacity of the Port. Consistent with our own modelling, the PPA has identified significant future upside for throughput at the Port, well beyond the revised allocation.

Briefings received by Fortescue indicate there is at least the additional capacity available again, constrained only by landside infrastructure and optimisation,” Fortescue Chief Executive Officer Nev Power said. 

“We’re confident that the Port capacity will continue to increase through the application of innovative technology and ongoing improvements in shipping and infrastructure efficiency, providing benefit to all Port users. 

“Fortescue applauds the Minister and the PPA team for their work on this important project for Port Hedland.”