Joint Statement: Crisafulli Government and Fortescue

The State of Queensland, Minister for Economic Development Queensland and Fortescue have reached a confidential settlement to resolve their dispute over the former State Government's public funding contributions to Fortescue's electrolyser manufacturing facility in Gladstone.

Whilst the terms of settlement are confidential, the settlement ensures that value from the State's $66 million investment has been retained in Queensland for Queensland taxpayers, including through the transfer of the project land, electrical substation and associated common-user infrastructure, together with other agreed arrangements.

This settlement recognises the assets and infrastructure remaining in Queensland and allows both parties to move forward.

ENDS

MEDIA CONTACT: Ash McDermid 0412 731 355