<p>Toll will invest $90m into the expansion of the Patrick Brisbane Autostrad terminal in Brisbane, the company said this morning (Monday, December 4).</p> <p>In a shot at discussions surrounding the entrant of a third stevedore into the waterfront marketplace, Toll managing director Paul Little said investment was assured – for the time being.</p> <p>“Given the rapidly increasing valuation of port land in Brisbane, effective use of land is more important than ever,” he said.</p> <p>“However, ongoing investment may be jeopardised if competition ideology replaces operating economics as the principle driver of port development, although this does not appear to be the case in Brisbane.”</p> <p>Mr Little said the ability to commit to “the huge capital spending on infrastructure” in Brisbane had been underpinned by a stable investment environment.</p> <p>Toll subsidiary Patrick occupies berths 7-9 at the port, with plans to expand into the yet-to-be-constructed berth 10.</p> <p>Patrick’s general manager, Doug Schultz, said the construction of berth 10 would see the next stage of the expansion of the Autostrad terminal. It will also provide 930 metres of heavy-duty quay line.</p> <p>Patrick recently confirmed an order for a further five Autostrads for Brisbane, which will increase the fleet to 23 machines.</p> <p>Two new state-of-the-art post-panamax quay cranes have arrived for a total of six quay cranes, identical to those delivered at Sydney, Melbourne and Perth earlier this year. These new cranes will provide Brisbane with capability to service the larger post-panamax vessels expected to call in to Australia in the future.</p> <br />
