International Container Terminal Services Inc. (ICTSI) said its investments in the Port of Melbourne has reached AUS$700 million.
At the off-site inauguration rites of the Phase 3 expansion of Victoria International Container Terminal (VICT) in Melbourne, Australia yesterday, company chairman Enrique K. Razon Jr. said the investments make ICTSI a significant foreign infrastructure investor in Victoria.
VICT started operating the port in 2017 with an investment of AUS$500 million. VICT developed Australia’s first fully automated container terminal and a pioneer in automation, with investments in infrastructure, technology, training, and sustainable practices.
“The additional investment redefines the port of Melbourne’s landscape, setting new standards for operational efficiency and capacity,” Razon said.
Razon said VICT can now accommodate the world’s largest container vessels, the Neo Panamax, solidifying the Port of Melbourne’s position as Australia’s number one container port.
He said Supersized ships can now sail directly into Port Phillip and dock at VICT, the only terminal in Melbourne capable of receiving them.
“This translates to faster turnaround times, improved efficiency and ultimately competitive edge for Australian businesses,” Razon said.
In a previous statement, ICTSI said Phase 3A will increase the terminal’s capacity by 30 percent to 1.25 million twenty-foot equivalent units (TEUs). It extends the quay by 71 meters to 735 meters or 769 meters with the mooring dolphins included, and will enhance VICT’s quayside operations by allowing two 366-meter vessels to berth simultaneously.
On the landside, three new storage blocks have been added along with 15 new truck lanes, enhancing the terminal’s booking system time slot offerings to the market by up to 30 percent per hour starting in January 2024.
VICT also acquired two ship-to-shore cranes, six auto container carriers and six auto stacking cranes as part of Phase 3A.
Phase 3B is scheduled to be completed in 2025 and will include the acquisition of another automated STS crane, three ACCs, four ASCs, and construction of two additional storage blocks.