Oil producer Stuart Petroleum Limited (STU) advises that the South Australian Minister for Urban Development and Planning, the Honorable Paul Holloway, has formally approved of an application to construct diesel receival, storage and distribution facilities at Port Bonython in the upper reaches of Spencer Gulf.
The Development Application was lodged by Port Bonython Fuels Pty Ltd, a wholly-owned subsidiary of Stuart Petroleum and the Minister’s approval relates to:-
- Construction of fuel unloading facilities at the Port Bonython Jetty
- Construction of a 5.3 kilometre long fuel pipeline from the jetty head to land owned by
Port Bonython Fuels
- Construction of tanks with a diesel storage capacity in excess of 100 million litres
- Construction of truck loadout and associated facilities.
Agricultural, pastoral, construction, resource, tourism and diversified diesel users in the north and west of the State will benefit from fuel being delivered directly into the region in bulk and stored there in quantity. Once operational, the Project will lead to a reduction in the volume of heavy traffic on roads leading northwards from Port Adelaide. Total carbon emissions associated with the provision of diesel to the north and west of the State will also be reduced.
The Port Bonython Project will be capable of delivering up to 1,000 million litres of diesel annually to fuel growth and industry in the north of the State. The first stage of the Project is scheduled to cost A$60 million. The second stage plans for expansion of storage and construction of a micro diesel distillation plant and will be subject to economic feasibility.
Stuart Petroleum’s Managing Director, Mr Tino Guglielmo said: “Government approval of the Project Development application brings Final Investment Decision an important step closer. Stuart is presently negotiating with major industry participants who have expressed an interest in the Project and Port Bonython fuels may ultimately choose to share its 100% equity with a business partner.”