DP World extends commitment to Port Botany with 15-Year lease
Global marine terminal operator DP World has signed a new 15-year operating lease extension at Port Botany in Sydney, Australia. Terminal operations contribute substantially to job creation and economic growth in the state of New South Wales (NSW). The lease agreement is the third significant DP World contract in Australia this year, following the recent 40-year lease renewal at DP World Brisbane and a new 30-year operating lease at Adelaide.
The new lease reflects the NSW Government’s commitment to improving overall port efficiency, and includes specific incentives to improve truck servicing and rail performance. Collectively, these measures are expected to significantly ease terminal and road congestion, whilst reducing energy consumption.
Sydney Ports Corporation CEO Grant Gilfillan and Senior Vice President and Managing Director for DP World’s Australia region, Jack Williams, signed the contract at Port Botany on behalf of their respective organisations, in the presence of Premier Nathan Rees and the Minister for Minister for Ports and Waterways, Joe Tripodi. Premier Rees called the signing a ‘major vote of confidence’ in the NSW economy.
Mohammed Sharaf, CEO, DP World, said, “The Australia Region constitutes a key element in DP World’s global portfolio. We are confident in our ability to make a significant and growing contribution to the region’s future growth and competitiveness, through our overriding focus on efficient, high-quality terminal services.”
Jack Williams, Senior Vice President and Managing Director, DP World, Australia Region, said: “DP World is extremely pleased to announce the extension of our operating lease at Port Botany. This contract assures all of our customers will continue to have access to the most comprehensive ports network in the country.”
Grant Gilfillan, CEO, Sydney Ports Corporation, said: “The latest agreement with DP World is a sign of our joint commitment to growth. The renewal and associated sector reforms will assist the NSW Government to achieve its policy objectives of increased competition and trade growth, greater investment in port facilities and a target of 40 percent rail mode share of containers to and from Port Botany.”