$12M agreement reached for T4
Port Waratah Coal and Newcastle Council have entered into a voluntary planning agreement (VPA) for developer contributions relating to the Terminal 4 project.
State planners originally indicated that a contribution of $524,000 would be adequate for the $5 billion project. However following the VPA, PWCS has agreed to pay $12 million to Newcastle council should the T4 coal loader project go ahead. The agreement proposed a $528,140 representing developer contributions, $1.5 million for infrastructure projects and $400,000 per annum per year for 25 years.
The T4 project is still being considered for approval by the state's Planning Assessment Commission.