BHP Billiton has approved the Newcastle Third Port Project with a capital investment of US$390 million.
BHP Billiton's share is as advised by Newcastle Coal Infrastructure Group Pty Ltd (NCIG).
The Project, managed by NCIG, involves the construction of a 30 million tonne per annum (Mtpa) export coal loading facility with a future option to expand to 66 Mtpa.
The port is located on Kooragang Island, in Newcastle, and will include a rail unloader, stockpile facilities, a ship loader and two berths in the south arm of the Hunter River.
The first ship loading of coal is scheduled for late calendar year 2010.
Shareholders in NCIG are BHP Billiton 35.5% (through Hunter Valley Energy Coal Pty Ltd), Peabody Coal 17.7% (through Excel Coal Limited), Felix NSW Pty Ltd 15.3%, Donaldson Coal Pty Ltd 11.6%, Whitehaven Coal Mining Limited 11.1% and Centennial Coal Infrastructure Pty Ltd 8.8%.