At a recent Sydney Ports community meeting a briefing on the 99 lease of Port Botany was provided by a NSW Treasury official.  According to the official the tourist drive and lookout at Molineux Point is likely to be included in the lease.  This area was a small piece of compensation for loss of shoreline and recreational amenity when the Port was built in the 1970s and it is the final leg of the Randwick City Council Eastern Surburbs Coastal Walk which begins at Clovelly. (See Map left) LOGOThe Treasury Officer overseeing the 99 year lease of Port Botany (and Port Kembla, Enfield, Cooks River Terminal) is Tim Spencer, Deputy Secretary, Commercial Policy and Financing.  Mr Spencer was previously Under Treasurer of the Queensland Treasury Department and in this role  he oversaw the sale of Port Brisbane. Mr Spencer(Bsc(Econ)(Hons)) has previously held other senior management and executive positions in the public sector in Queensland, South Australia and the Australian Capital Territory, where his responsibilities have spanned economic policy research and development, establishment of market arrangements and the long-term leases of electricity assets, restructuring of government- owned electricity businesses, investment and borrowing activities, and the implementation of National Competition Policy.

(Photograph of the Molineux lookout is from the website of the architect(Tim Williams)who designed works to celebrate a sister city relationship with Yokkhaichi Port)

NOTE:  Sydney Ports Corporation Annual Report SPC 2010/11 Annual Report note 14 NSW TCorp borrowings $603,826 599 (a) Borrowings consist of NSW TCorp fixed rate loans. NSW TCorp loans are based upon payments of coupon interest only and repayment or rollover of principal at maturity. The maturity dates of the loans are between 1 August 2013 and 15 April 2039. All borrowings are secured by NSW Government Guarantee. No assets have been pledged as security for interestbearing loans and borrowings. (b) Fair value Details regarding fair value, interest rate and liquidity risks are disclosed in note 17. (c) Financial facilities available The Corporation had the following financing facilities in place at 30 June 2011:

  •  A total loan facility of $1 billion with NSW TCorp approved on 1 March 2011 of which $614.246 million (2010: $614.248 million) has been drawn down.
  •  A bank guarantee facility for $6.200 million with the Commonwealth Bank of Australia.
  • A credit card facility for $0.060 million with the Commonwealth Bank of Australia.
  • A purchasing card facility of $0.500 million with the Commonwealth Bank of Australia.
4 Responses to “Save Molineux Point”
  1. Lynda Newnam says:

    Tourism at the Port of Rotterdam http://www.expatica.com/nl/leisure/travel_tourism/Rotterdam_-cyclists_-haven-in-Europe_s-largest-port_14435.html

  2. Lynda Newnam says:

    From page 57 of Garnaut Review 2008 Report on Climate Change Impacts on Infrastructure in Australia http://www.garnautreview.org.au/ca25734e0016a131/WebObj/02-AInfrastructure/$File/02-A%20Infrastructure.pdf

    “Large high value through-put ports such as those in Melbourne and Sydney are expected to outlay higher capital expenditure between 2031 and 2070 to upgrade and replace infrastructure to combat these impacts(from Climate Change), while smaller ports such as Adelaide are expected to spend less…….

  3. Lynda Newnam says:

    NOTE: The Revetment Wall along Prince of Wales Drive is listed as a heritage item on Sydney Ports’ Section 170 Heritage and Conservation Register http://www.sydneyports.com.au/__data/assets/pdf_file/0016/11095/Sydney_Ports_Corporation_Section_170_Heritage_and_Conservation_Register.pdf

  4. Lynda Newnam says:

    HANSARD: Legislative Council 24.10.06 http://www.parliament.nsw.gov.au/Prod/parlment/hanstrans.nsf/V3ByKey/LC20061024/$File/532lc025.pdf

    The Hon. GREG PEARCE [3.52 p.m.]: I will speak briefly in support of the comments made by the Hon. Melinda Pavey during her excellent contribution to this debate. Having listened to the last part of the debate, it is obvious to me that there is an issue relating to the role of the Minister. The integrity of the Minister relates not only to the public interest but also to public confidence and, more generally, the economic prosperity of this State. The manner in which the ports portfolio has been managed in the past has revealed inadequate strategic planning and integration of ports with transport networks.

    In the other place the Minister for Ports and Waterways cited figures relating to trade and made the point that the ports are integral to maintaining the strength of the New South Wales economy. I will not deal in detail with those figures except to say that they emphasise the paramount importance of ports and underline the basis for doubt on the part of the Opposition and many members of the community that this Government has the ability to properly administer this State’s ports or the portfolio. Concerns have also been expressed about the massive increase in trade through Port Botany as a result of recent expansion and its concomitant impact upon surrounding areas as well as transport generally. People who use the M5 East know that already it has reached its capacity and that the increased traffic associated with Port Botany will only exacerbate the M5 East’s problems.

    The Government’s policy is for 40 per cent of containers to be transported by rail. However, successive Ministers have failed to implement an integrated ports development, and that is not new. Papers provided several years ago by the Government relating to the approval of the ports expansion strategy by Cabinet in 2003 show that Cabinet considered a report from Mr Chris Wilson, who was then the Director, Major Development Assessment of the then Department of Infrastructure, Planning and Natural Resources. Mr Wilson noted, when considering concerns related to the development application and the environmental impact statement for Port Botany at that stage, that there was inadequate supporting information on the wider strategic issues, particularly transport. He also noted that any consent for the port’s expansion, regardless of whether a commission of inquiry was undertaken, would not address the significant off-site issues that exist.

    In the same bundle of papers, Mr Greg McDowell, Manager, Project Development of the infrastructure co-ordination unit of the Department of Infrastructure, Planning and Natural Resources, also expressed concern about the basis relied upon by the Government to determine its policy. He queried whether we really want to keep concentrating economic activity in the Sydney Basin, thereby creating further pollution, traffic and other environmental pressures, because that was what the expansion of Port Botany would do. He also questioned whether the expansion of Port Botany should proceed or whether the Government should instead consider ports development in Newcastle and Port Kembla. Although those views concern wider issues, they relate to the whole question of whether this Government can be trusted to undertake the management of vital ports in New South Wales.

    I could cite many concerns expressed by other commentators and experts relating to rail freight and the failure of this Government to integrate the planning of ports development with the New South Wales transport network. Most honourable members would have read an article in the Sydney Morning Herald on 14 October by Michael Duffy dealing with the works undertaken by the Patrick Corporation in expanding its operations at Port Botany. He noted that notwithstanding that the port has the most up-to-date equipment one could expect in port operations, in his view the State Government had let down everyone else. He referred to the proposal to move 40 per cent of containers through Sydney by rail, with which everyone agrees, and noted with some concern that only half that rate has been achieved. That is a major problem that the Government has not addressed in relation to Sydney’s ports development.

    The Minister in the other place was very proud of the growth of the port, something that is fundamental to the future prosperity of New South Wales. The figures for the increase in traffic through the three ports are quite extraordinary and reflect the growth of New South Wales, in spite of any proper integrated planning by the succession of Labor Ministers who have had responsibility for ports and planning. The bill deals with some administrative issues. Perhaps Ms Sylvia Hale misunderstood the legal nature of the description of the need to address purported consents and purported decisions that may have been made. Certainly the Opposition does not have any opposition to addressing any administrative oversight; that is not to say that we in any way excuse the Government for its inability to properly manage this portfolio.

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