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    Coat of ArmsMedia Release
    Premier and Minister for Reconstruction
    The Honourable Anna Bligh

    Bligh Govt lays groundwork for new investment in major projects

    Premier and Minister for Reconstruction
    The Honourable Anna Bligh

    Tuesday, September 06, 2011

    Bligh Govt lays groundwork for new investment in major projects

    The State Government today announced a plan to attract private sector investment to deliver two new major projects and further boost the growing coal industry.

    Premer Anna Bligh said Queensland Treasury had been tasked with investigating investment opportunities to fund the Connors River Dam and proposed Multi-Cargo Facility at Abbot Point.

    A report examining funding models and options is expected to be completed by the end of this year, with the Government possibly in a position to approach the market in early 2012.

    “Queensland taxpayers stand to benefit from the increased royalties the infrastructure investment will reap from enhanced export potential without having to foot the bill,” Ms Bligh said.

    “The government’s plan is unashamedly to create opportunities for private sector investment that results in increased benefits for Queenslanders – be it through increased royalty revenues, new jobs or growth in our regional centres.

    “Money speaks and business investment is flowing in Queensland, creating export capacity, developing our natural wealth and securing future prosperity.”

    The proposed $2.6 billion Connors River dam and pipelines project involves a 49,500 megalitre dam and two pipelines; a 133 km pipeline from the dam to Moranbah and a 265 km pipeline from Moranbah to Alpha.

    Ms Bligh said the projects would deliver reliable water supplies to the Bowen and Galilee coal basins as well as the townships of Nebo, Moranbah and Alpha.

    “This massive project will underpin the water supply needs for the development of this resource industry corridor and the towns that support it,” Ms Bligh said.

    “With the continued development of the Bowen Basin, and indeed the opening of the Galilee Basin, there is also strong demand for additional export capacity in the north of the state.

    “Abbot Point represents a prime opportunity for additional export capacity which is why a business case is currently underway to capture the potential opportunity of combining development of the sites known as T2 to T7.”

    Ms Bligh said the business case was due by the end of the year and start of construction of $2 billion-plus project targeted for 2014-15.

    “Combine development of T2 to T7 in an offshore multi-cargo facility could provide for up to 12 cape-sizeable berths and tug harbour,” Ms Bligh said.

    The Government has already awarded development rights of up to 60 mtpa to BHP and Hancock at T2 and T3; and T4 to T7 expansions is already in an expression of interest stage as companies look to secure future capacity.

    Media contact: Treasurer's Office - 07 3224 6900