Newcastle Coal Infrastructure Group has today opened its third coal export terminal for business. The group said today that first stage of the terminal is completed fully now and ready to operate.

According to NCIG, total cost of the first stage of the terminal was reported of about $A1 billion. NCIG said that the terminal has a capacity of up to 30 million tons per year.

NCIG said today that there was a need for this terminal as the export demand is continuously growing.

Newcastle also said that now it will start working on the second phase of the terminal.

"Stage two will double the capability of stage one, adding more than $600 million a year to State revenue through royalties and attract extra investment of more than $1 billion to NSW," said Tony Galligan, chairman of NCIG.

Newcastle Coal Infrastructure Group started the construction of this project in the year 2007.

The new terminal has a rail loop, dump station, stockyards and wharf facilities in it.