08 May 2012

Clayton Utz supports Patrick in expanding Port Botany presence

Sydney, 8 May 2012: Clayton Utz has advised ASX-listed Asciano subsidiary Patrick Stevedores ("Patrick") on agreements with Sydney Ports Corporation for the development and expansion of Patrick's existing Container Terminal at Port Botany.

Clayton Utz partner Nikki Robinson led a multidisciplinary team in advising Patrick on the agreements. The Clayton Utz team also included Environment and Planning partner Claire Smith and Real Estate special counsel Kirsten Matthews.

Under the terms of the development agreement, Patrick will expand its footprint at Port Botany by 39 per cent through the development of an integrated Container Terminal, comprising its existing Container Terminal and the adjoining 17.6 hectare site known as the Knuckle. The new Terminal will more than double Patrick's total capacity to 2.5 million twenty-foot equivalent units (TEU) per annum – equivalent to the number of TEUs that pass annually through the Port of Melbourne.

Commenting on the signing of the agreements, Clayton Utz lead partner Nikki Robinson said: "The Port Botany expansion will be one of the largest port projects undertaken in Australia in many years, and is a significant commercial development for Patrick. We are pleased to have worked alongside their team to conclude these important agreements with Sydney Ports Corporation, in what was truly a team effort."

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.