Infrastructure is being utilised as a major lever by all Australian Governments not only to increase services throughout their state but as a major stimulus to drive the economy as a result of the effects of the coronavirus pandemic. These major construction projects create jobs and a myriad of work opportunities for many businesses. Opportunities for businesses both directly involved with the project and indirectly through the supply chain of goods and services. The income and expenditure generated then flows through the economy to generate further business activity.
To assist our customers stay across some of the potential opportunities available to them through government infrastructure projects, we endeavour to stay across announcements and updates. In this article, we bring to your attention a number of projects with maritime connections - the redevelopment of the Macquarie Wharfs in the Port of Hobart and works on the Australian Maritime Complex in WA.
Macquarie Wharf Redevelopment, Port of Hobart
For some people in the northern states unfamiliar with all the apple isle has to offer, Hobart may be primarily noted as the finish line for the annual Sydney to Hobart Yacht Race. For others including international visitors, it is a highly sought after, must-visit, bucket list travel destination with stunning wilderness areas to discover, amazing coastline to explore and fantastic produce to enjoy.
Hobart is all that, but it also has a very prominent position on the international stage. The Port of Hobart is a major gateway to the Southern Ocean for exploration and research teams heading to Antarctica. The planned Tasports redevelopment project of the port will support these initiatives as well as providing potential for growth in trade. Specifically, bulk container ships for forestry exports and to boost tourism by catering for cruise ships. The significance of the Macquarie Wharf Redevelopment on a national basis has been highlighted with its inclusion in the 2021 Priority List released by Infrastructure Australia.
The Master Plan for the redevelopment of the Port was launched in 2018 and covered a 15 year investment and which included the Port of Hobart activities as a priority. The current infrastructure focus is the redevelopment of wharves 4, 5 and 6 which are approaching the end of the lifespan having been built 1969-75.
Amongst other works, the scope of the project includes:-
- Construction of a new 105 metre quay line and realigning the current 615 metre quay line which will provide a continuous 720 metre quay line.
- Construction of associated berthing and fender beam infrastructure
- Installation of bollards
- Installation of power and upgrades to other services
- Strengthening heavy lift areas
- Construction of extra facilities for the passenger terminal
Once completed, the redevelopment of the wharves is expected to provide an Antarctic Precinct for growth of the science sector; a dedicated terminal for large scale cruise ships; and an expansion of the storage facilities for logs and containers.
Clearly, this is a major project representing significant work opportunities for businesses in Tasmania across multiple trades and skills. For businesses interested in tendering when contracts are opened and for those wanting to stay across developments in this space, refer to www.tasports.com.au
WA Maritime Projects
There are many other significant maritime infrastructure projects in various stages of being awarded and constructed. In Western Australia, in early February, the government issued the first of four infrastructure contracts for works on the Australian Maritime Complex.
Georgiou secured that contract which is for the delivery of a vessel transfer path at the complex. The overall project, an $80+ million investment by the WA government, aims to provide facilities to cater for and support larger Navy vessels.
Lanskey Constructions has also been successful in receiving the contract for the shipbuilding facility in the precinct.
Being successful in a highly competitive infrastructure tendering environment can be challenging. The contract and tendering process alone can be complex and arduous, even when bidding for stages of the works through the managing contractors. Meeting the guidelines and requirements can include proof that a business has the skills, expertise and equipment to deliver the work on time and budget. To satisfy tender criteria and/or to commence a contract, many operators may need to invest in an upgrade of machinery and equipment.
Ensuring easy access to cost-effective equipment finance can be pivotal to the process. Whatever the size of your business, large corporate operation or small, sole owner-operator contractor, you can utilise the support provided by Jade Equipment Finance.
Our support for businesses across many sectors but particularly in construction and civil works includes:-
- Cost-effective finance options covering the full range of finance facilities including Chattel Mortgage, Leasing, Rental and Commercial Hire Purchase
- Professional, highly-skilled finance experts to source and structure even the most complex asset acquisition finance deals
- Online equipment finance repayment calculator to generate data required to complete tenders and to assist in the business budgeting process.
- Cheap equipment loan interest rates across our portfolio, sourced from a vast lender panel
- Access to industry-only specialist equipment lender channels
For support and assistance in acquiring cheap finance to take on major infrastructure contracts or any other level of works, engage in an obligation-free discussion with one of our fully licensed finance professionals.
Contact 1300 000 003 to discuss your lending requirements
DISCLAIMER: IF MISINTERPRETATIONS, MISREPRESENTATION OR ERRORS EXIST IN THIS ARTICLE, NO LIABILITY IS ACCEPTED. THE INFORMATION IS PROVIDED ONLY FOR GENERAL PURPOSES AND NOT IN ANY MANNER INTENDED AS THE ONLY SOURCE FOR MAKING FINANCIAL DECISIONS. THOSE THAT CONSIDER THEY REQUIRE ADDITIONAL GUIDANCE OR ADVICE SHOULD REFER TO AN INDEPENDENT FINANCIAL ADVISOR.