NSW Minister for Transport and Minister for the Hunter Gladys Berejiklian today welcomed the announcement by NSW Premier Mike Baird and Treasurer Andrew Constance that the Port of Newcastle had been successfully leased, delivering funding needed for the revitalisation of Newcastle.
Ms Berejiklian, who visited the Hunter region yesterday, said the NSW Government is delivering on a promise to invest in much-needed infrastructure in the Hunter region, after the Port was leased for 98 years to Port of Newcastle Investments.
The long-term lease will deliver gross proceeds of $1.75 billion. This outstanding result means an extra $1.5 billion will be invested in much-needed infrastructure, with 30 per cent to be directed toward projects in rural and regional NSW.
Ms Berejiklian said the NSW Government confirmed $340 million from the proceeds will be used for the revitalisation of the Newcastle CBD, in addition to the $120 million the Government has already allocated to the project, including a new light rail service.
The remainder – more than $1.2 billion – will be invested in the Government’s dedicated infrastructure fund, Restart NSW.
"I am very pleased the announcement by the Premier and Treasurer today confirms our commitment to the revitalisation of Newcastle," Ms Berejiklian said.
"I spent yesterday in the Hunter region with local MPs, and met with local residents, business and community groups in Newcastle, Maitland, Charlestown and Swansea.
"My visit confirmed just how proud I am to be taking on this new role as advocate for the Hunter region, and today’s announcement confirms how hard we are working to deliver improvements."
Yesterday Ms Berejiklian joined local MPs to announce public transport customers would soon benefit from a major refresh of Hunter train carriages, with a $5 million investment to upgrade the region’s 14 dedicated Hunter train carriages, with work set to get underway immediately.
Minister welcomes funding for the Hunter region.pdf (pdf 77KB)