The group has lodged a development application with the Launceston City Council to extend and refurbish existing buildings, construct new buildings and a rail link on its eight-hectare site off Dowling Street at Newstead.

The three-lot subdivision would be completed in 11 stages due to the site requiring to be continually operational.

An application to develop the facility, which Toll has operated at since the 1980s, was first lodged with the Launceston City Council in May, 2016.

But the process was halted only days later after Toll conducted an internal review of all capital projects.

The application was reopened on April 11 this year.

According to the planning application, development of the facility will allow a greater use of rail into the Launceston site and “eliminate significant volumes of heavy vehicle movement in and out of Launceston via Invermay Road and Goderich Street”.

For several years Toll Group has been searching for an alternative site to establish a transport hub in Tasmania’s north.

But analysis discovered the most suitable site would be the group’s existing Launceston facility.  

A spokeswoman for the Toll Group said the development was in the early stage of review. 

“Toll is in the early stages of review and we will update the community as our plans progress,” she said.

The public can have a say on the development application until May 2. 

The proposed investment in Launceston comes after Toll announced in September it would spend $170 million to build two new ships to transport freight across the Bass Strait.

The new vessels will be available in late 2018 and will replace Toll’s existing ships, continuing to operate overnight services, six days per week.

Toll’s spokeswoman said the ships would boost capacity by 40 per cent “as we anticipate continued growth in trade”.