Construction work is to begin at Kooragang, Port of Newcastle, on a 30 million litre diesel tank storage facility.
The new infrastructure is being built by Park Fuels, a privately-owned Australian fuel supply company.
“Today marks a significant milestone for Park Fuels and for the future security of Australia’s fuel supplies,” said Park Fuels CEO, Brett Fletcher, who added, “diesel is the lifeblood of our heavy industries. It fuels our trucks, our mines and our farms, so by investing in strategic storage facilities like this one we are helping to safeguard domestic supplies during peak periods and emergencies, while also keeping costs down for consumers”.
The new tank, which will be built within the grounds of Park Fuel’s terminal at the Port of Newcastle, will increase the company’s diesel storage capability at Kooragang from 54 megalitres to about 84 megalitres.
“As an Australian owned and operated company, we are proud to deliver a project that will not only double our workforce during the construction phase but will increase our existing team by 10% upon completion, ensuring Australian families and industries have continual access to the fuel they need, when they need it,” Mr Fletcher said.
The new tank has been jointly funded by Park Fuels and the Commonwealth Government’s $260 million Boosting Australia’s Diesel Storage program, which aims to build around 780 megalitres of diesel storage across the country.
Port of Newcastle CEO Craig Carmody said Newcastle and the Park Fuels facility at the Port will play an important role in strengthening Australia’s fuel security by increasing the volume of diesel stock that can be kept onshore to meet future needs.
“Fuel imports have grown significantly over the past decade and now account for the port’s second largest trade, with an increase in demand from agriculture and mining, general industry and domestic users,” Mr Carmody said.
“As operators of one of the Port’s three bulk liquid import terminals, we congratulate Park Fuels on reaching this significant milestone.
Construction is expected to be completed mid next year with the new strategic storage tank operational by late 2023.
Park Fuels is an Australian owned fuel supply company that has been supplying products and services nationwide for more than 20 years. It is an independent fuel importer and distributor and it operates two terminals along with its own fleet of tankers. It has a network of over 25 retail sites.
