The Port Hedland community including industry, residents, businesses, and port users have received further clarity around the Port Hedland Voluntary Buyback Scheme after the State Government announced its in-principle support.

Ports and Regional Development Minister Alannah MacTiernan released details around the scheme during a visit to the town on June 12.

She also announced the opening of registrations for Pilbara businesses to work on the $121.5 million Spoilbank Marina development that is expected to create more than 200 jobs in construction.

On the PHVBS, Minister MacTiernan said eligible residential property owners will be offered a settlement price based on the agreed market value of the property as at 6 August, 2019 (indexed), a premium of 35 per cent of the agreed market value, and an amount of up to $20,000 for verifiable transaction costs.

She said the voluntary scheme would be administered by the Pilbara Ports Authority and funded by industry, with work underway to finalise the funding mechanism.

Minister MacTiernan said the scheme was expected to cost about $200 million and that it would be running in the second half of 2020.

“This is a good outcome for landowners in the West End: those that wish to take up the option will receive a 35 per cent premium on their property value, while those that wish to remain can do so,” Minister MacTiernan said.

PHIC welcomed Minister MacTiernan’s announcement, with Chief Executive Kirsty Danby saying it provides greater certainty for the entire Port Hedland community.

Kirsty said the PHVBS, the WA Planning Commission’s Improvement Scheme for the West End, development of the Spoilbank Marina and other community amenities will contribute to a transformational change for the area.

Minister MacTiernan said the State Government is committed to developing the West End as Port Hedland’s “buzzing maritime and commercial hub, backed by our investment into the Spoilbank Marina and ongoing work on future opportunities for the area”.

Ms MacTiernan said the State Government is committed to developing the West End as Port Hedland’s “buzzing maritime and commercial hub, backed by our investment into the Spoilbank Marina and ongoing work on future opportunities for the area”.

“The Spoilbank Marina is a massive project for Hedland and will involve considerable work opportunities for Pilbara businesses,” she said.

“This register gives local businesses the chance to get in early and flag their interest and expertise in civil infrastructure projects, ensuring the best possible opportunity to be a part of this transformational project.”

Pilbara MLA Kevin Michel said the PHVBS would provide options for people living in the West End and ensured residents were treated fairly.