Newcastle Coal Infrastructure Group Completes Stage 2AA Expansion
ICG is pleased to announce that Newcastle Coal Infrastructure Group (NCIG) has successfully completed Stage 2AA expansion thereby increasing total export capacity of the port from 30 million tonnes per annum (Mtpa) to 53Mtpa.
John Clarke, managing director of ICG said, ‘NCIG management team has done an excellent job completing the expansion on time and under budget. Diversified Infrastructure Trust and Energy Infrastructure Trust are cornerstone investors in NCIG and are very pleased with the performance of this investment to date. Successful completion of Stage 2AA will also result in a step-up in cash coupon payments on the notes held by our investment trusts’.
NCIG is currently undergoing Stage 2F expansion which is expected to be completed in December 2013 and will further increase the nominal export capacity of the port to 66Mtpa.