Port Taranaki, which is a port complex located in New Plymouth, New Zealand, has acquired a 21.5 hectare power station site from Contact Energy for $24 million.
Methanex New Zealand has also participated in the acquisition of the land, which could be used to store more bulk dry and liquid cargo and logs. Of the $24 million deal, the Taranaki Regional Council-owned port paid $15.5 mn for the majority stake, while Methanex New Zealand paid $8.5 mn for approximately 2.5 hectare land.
The port authority bought the land as it feels it very important to have extra land for cargo aggregation, for port customers to put storage facilities on.
The acquisition of land, which essentially doubles the size of the port, may help the port in the future, the authority feels.
While the 198 metre-high chimney will stay, the large maroon boiler house and several other buildings are likely to come down. The port, which is currently the third largest export port by volume and sixth by value, expects to be the country’s second-largest export port by volume, behind Tauranga, by the end of the year.
This increase in tonnage is coming from a massive boost in methanol production that will come with the reopening of the Waitara Valley methanol plant later this year.
Leave a Reply
You must be logged in to post a comment.