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Phase 2 and Phase 3 are targeted for completion by the end of calendar year 2008 at an estimated cost of $639 million.
The approval follows the Phase 1, $532 million expansion of facilities now underway to cope with 68Mtpa by the end of 2007.
BBI has long-term 100% take or pay contracts in place underwriting the expansion to 85Mtpa.
“By working with the QCA [Queensland Competition Authority] on securing this approval, we have been able to achieve an outcome in all stakeholders’ interests … the QCA approval now clears the path for expansion of the terminal to the full contracted capacity of 85Mtpa by the end of 2008,” DBCT chief operating officer Jeff Pollock said.
