Port of Newcastle issued a media release announcing that Infrastructure NSW, an Australian government entity, had withdrawn A$12.7 million funding for the project.
“Infrastructure NSW has advised that the AUD12.7 million funding for the cruise terminal project is no longer available,” the Port of Newcastle said in a statement.
Port of Newcastle has been working on this project on behalf of the NSW Government on the basis of providing a facility that meets the cruise industry's needs while remaining within the funding provided.
"While disappointed construction of the terminal facility cannot proceed at this time, we respect that funding is no longer available. Our consultations with the cruise industry have been beneficial in better understanding its needs and ensuring that the design of any future infrastructure will be well-informed by industry," the statement said.
"We're pleased that $800,000 of upgrades to mooring bollards, jointly funded by the NSW Government and the Australian Government, have enabled larger ships of up to 3,900 passengers to berth in Newcastle," it added.
"Port of Newcastle will continue supporting the Hunter's tourism sector by berthing cruise ships in port and coordinating the many wonderful volunteers dedicated to welcoming visitors to our city," the statement concluded.