The former Forgacs slipway at Carrington will be given a new lease of life repairing ships with French company Thales announcing their plans to join with the state government and take over the site.
The Hunter Business Chamber has today welcomed this announcement from the Deputy Premier John Barilaro as the developments planned will revitalise the region's key maritime hub.
Around 70 new jobs will be created with the company working in collaboration with the state government to invest $6 million into the rundown facility.
Initially, Thales say they'll be working on commercial ship repair and support, but the company might be looking for lucrative Navy contracts in the future.
Hunter Business Chamber CEO Bob Hawes says its great to see these facilities up and running in Newcastle again.
"The reinstatement of the former facility that ways there, which whilst it had a ship building capacity, we understand Thales intention is to use it for maintenance, but that is a big step given that we haven't had that opportunity or that operate within the port of Newcastle, now for a period of two years or more so it's fantastic to see it comeback".
He also says he's hopeful this project stays a local project.
"The investment that goes into this and this is certainly a good example of where the government has committed some funds and been able to leverage further input or further expenditure from the private to get it up and going.
"And we are really hopeful this can be very much a local production as it were, and re-engage a lot of the businesses around the Port."
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