Freight train passing on tracks. Source : James Wheeler via Pexels.
A private sector investment into an intermodal freight terminal in North Melbourne was endorsed by the Federal and State Governments.
Intermodal Terminal Company (ITC) announced that construction would begin on the Somerton Intermodal Terminal.
The terminal will be a part of the Australian and Victorian government $58 million Port Rail Shuttle Network and is expected to cost $400 million to build and operate.
ITC Founder and CEO Mishkel Maharaj said ITC is thrilled to bring the terminal to Melbourne.
“ITC is delighted to announce the Somerton Intermodal Terminal as the first independently constructed, maintained, and operated terminal in our portfolio.” Mr Maharaj said.
“We’re especially pleased that once operational, the terminal will deliver additional benefits to the people of Melbourne every single day of its operation – through reduced carbon emissions and air pollution, reduced road congestion and improved road safety.” He said.
A major drawcard for the terminal is the creation of jobs, and the removal of suburban roads from thousands of truck routes.
It will also seek to reduce carbon emissions and increase efficiency and safety for producers, farmers, freight operators, and exporters.
The Federal Minister for Transport and Infrastructure Catherine King said the Port Rail Shuttle Network will overall enhance business operations and increase safety for motorists.
“The Port Rail Shuttle Network will not only enhance the strategic importance of local freight and logistics operators – it will also deliver efficiencies and cost-savings for businesses.” Ms King said.
“The shuttle network will also deliver a huge safety boost for motorists by moving freight off the roads and onto rail.
“I’m thrilled to see this private sector backing for the landmark project.” She said.
When at capacity, it is expected that the terminal will take 500,000 truck trips off Melbourne roads.
It will also seek to save 451 million litres of fuel each year, and reduce emissions by 189,000 tonnes.
The Port Rail Shuttle Network is expected to move 30 percent of Melbourne’s containers by rail by 2050.
The terminal will be built at the Austrak Business Park and is estimated to create 190 construction jobs, and 50 permanent jobs once operation in 2025.
