- Published:
- Friday 30 August 2024
The Allan Labor Government has finalised a 42-year lease with the Port of Melbourne – a deal that will get more trucks off local roads across the west and inject millions into the economy.
Minister for Ports and Freight Melissa Horne today announced the 29-hectare former Melbourne Market site will be leased to the Port of Melbourne until 2066.
The Port of Melbourne is Australia’s busiest container port, handling more than a third of Australia’s containerised trade.
Equivalent to more than 14 MCGs – the old Melbourne Market site has the potential to further increase the Port’s capacity by an additional one million twenty-foot containers annually, boosting trade and making Victoria’s supply chains more efficient and resilient.
Currently shipping companies store their containers at small sites across the west – the new site will mean companies can store their containers right next to the port helping minimise truck trips through suburbs in Melbourne’s inner west including Footscray, Yarraville, Tottenham, Brooklyn and Seddon.
The site will also better support truck drivers by providing a dedicated space for them to refuel and take a break.
This builds on the Labor Government’s $10.2 million in the Victorian Budget 24/25 for new camera technology to enforce our legislated 24/7 truck bans on roads in the inner west – taking 9,000 trucks off local roads when the West Gate Tunnel opens.
The lease is a further step to secure our supply chains and ensure Victoria remains Australia’s freight and logistics capital – our $36 billion freight sector employs 260,000 Victorians.
Much of the former Melbourne Markets site is currently being used to support the delivery of the West Gate Tunnel and other major transport infrastructure projects.
Quote attributable to Minister for Ports and Freight Melissa Horne
“This is a great deal for Victoria – we’re getting more trucks off local roads, increasing the amount of freight the Port of Melbourne can handle, boosting trade and the economy, while strengthening Victoria’s supply chains.”
Quote attributable to Member for Footscray Katie Hall
“Through this lease, the West Gate Tunnel and our investment in truck ban enforcement technology, we’re getting trucks off local roads in Melbourne’s west and returning them to local people.”
Quote attributable to Port of Melbourne CEO Saul Cannon
“For a city port in Australia’s soon-to-be largest city, the site’s strategic location and proximity to existing port functions enables a strategic transformation of the Port precinct that will enhance supply chain efficiencies, reinforcing Victoria’s position as the freight and logistics capital of Australia.”