For those that use Wagga Wagga in the NSW Riverina on their freight routes, you'll no doubt be pleased to hear that another phase of construction of the Riverina Intermodal Freight and Logistics (RIFL) Hub is now in progress. NSW Deputy Premier John Barilaro joined other politicians and dignitaries on site for the 'sod turning' event which signalled the start of the next stage of this highly significant project.
The facility is seen as an important project to enable the Bomen Industrial Precinct to provide more streamlined and improved freight services throughout Australia and internationally to export markets. Mr Barilaro said the precinct will make Wagga Wagga a significant factor in the international and domestic sector for Australia. For truck operators it should represent more efficient operations and reduce trucks having to go through the Wagga Wagga CBD.
The construction site is located in the Bowen Industrial Precinct in a northern suburb of Wagga Wagga, adjacent to the southern railway. The development of the hub is aimed at facilitating more efficient and more effective movement of freight between Melbourne and Sydney and further down the track into and out of Brisbane.
The project comprises multiple aspects across a 95 hectare site including the freight terminal and both road and rail infrastructure. 4.9 kilometres of master rail sidings involved and a container transfer terminal. Future developments are planned to add a bulk goods terminal for agricultural products.
Stage 1 is the construction of the road network and required infrastructure
Stage 2 is the development of the rail infrastructure
Stage 3 is the Bomen Industrial Precinct development itself
Paul Toole who is the NSW Minister for Regional Transport and Roads has stated that the facility would be a world-class facility to service the manufacturing, renewables and recycling industries in the region. He said the RIFL hub would work ‘hand-in-hand’ with the Wagga Wagga Special Activation Precinct to expedite access to markets for products and businesses in the region.
He stressed the importance of this project as a cost-effective market access for Australian businesses to assist the recovery process from the impacts of long-term drought, devastating bush fires and from the COVID-19 pandemic.
The project is made possible through a $43.7 million investment from NSW Government and investments from Wagga Wagga City Council and Visy Logistics.
According to Councillor Conkey of Wagga Wagga Regional Council, the project has been ’15 years in the making’ and signifies a core for expansion and growth in the precinct with the potential as a major economic driver well into the future.
Stage 1 of the overall project was completed in November 2017 and involved the $35 million Bomen Enabling Roads project. Another element, the Eunony Bridge Upgrade was opened in September 2020 and provides a route for Higher Mass Limit vehicles to reduce travel times and avoid the CBD.
The PPP between Wagga Wagga Council and Visy Logistics was finalised in August 2020.
The design and construct contract for Stage 2, the stage just commenced, and Stage 3, was awarded in August 2020 to Huon Constructions.
The entire project is due for completion in mid-2022.
The project is poised not only to promote greater utilization of rail for freight over road transport but also holds the potential to yield advantages for truck operators. A key aspect is the enhancement of efficiency and reduction in delivery times, achieved by eliminating the necessity of traversing through the CBD due to the establishment of a central distribution point.
Situated conveniently at the intersection of major thoroughfares, namely the Olympic and Sturt Highways, this central distribution point could offer significant advantages to producers. They can now seamlessly connect their products to freight links, streamlining the process of reaching their target markets.
Given the projected doubling of freight volumes by 2030, and a potential tripling by 2050, initiatives like the RIFL project undoubtedly emerge as pivotal contributors to bolstering the productivity of the broader transportation sector.
If the ongoing construction phases of the project, as well as the sectors that have already been completed, align with potential benefits for your business, now might be the opportune moment to consider investing in a new truck. Such an investment could greatly enhance the overall productivity and efficiency of your business operations.
Investing in a new truck in the current low interest rate environment, with a specially negotiated cheap truck loan, may set your business up to capture business opportunities in line with the projected increase in growth in freight.
Truck finance is available with a range of loan types including Leasing, Rent-to-Own truck loan, Chattel Mortgage for commercial vehicle financing and CHP with benefits to suit different business structures. If the development of the RIFL is an incentive for you to branch out and start your own business, Jade specialises in ABN and No Doc Truck Loans for new operators.
To discuss your truck finance requirements, contact Jade Truck Loans on 1300 000 003.
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