The Channel Deepening Project has been identified as a project of national significance by both the Victorian and Federal Governments, which recognise the important role of the Port of Melbourne as Australia’s premier container port, and the benefits of improved shipping access to the Port through the Channel Deepening Project.

These benefits include:

• Expanding the port’s trade capability as a key driver of sustainable economic growth for Victoria
• Increased economies of scale – more cargo in less shipping movements equal improved costs which help make Australia’s exports more competitive
• The use of larger more efficient cargo ships would see a reduction in fuel consumption and reduce greenhouse gas emissions from shipping by 1.5 million tonnes
• Maintaining Melbourne’s status as Australia’s number one container port and ensuring Victorian business continues accessing the widest range of regular and reliable shipping services
• The creation of 2300 direct jobs during construction and 500 jobs once completed
• The Australian Council for Infrastructure Development rates channel deepening as the nation’s most valuable infrastructure project, with the potential to add $14.8 billion to GDP by 2030.