Up to 28,000 jobs will be created in Queensland with the Newman LNP Government’s investment in infrastructure in the Galilee Basin.
According to the media statement issued by Premier Newman on Monday, the Government in accord with resource companies will invest in infrastructure to improve schools, hospitals and roads to better the quality of life for all Queenslanders.
“Our government is determined to support projects and industries that will grow Queensland jobs, and the Galilee Basin offers an enormous opportunity to do that. We have worked hard since we were elected just two and a half years ago to find the money needed to make these important investments,” Mr Newman said.
“Today I announced that the State Government is prepared to take a short-term, financial stake in the rail, port or other infrastructure needed to open up this region to create the jobs Queenslanders need. To build on our Galilee Basin Development Strategy, we are now prepared to sign agreements with Galilee Basin proponents who can demonstrate they will meet the majority of the cost of providing this common-user infrastructure.”
He said the first Infrastructure Enabling Agreement will be signed with Indian company Adani to build the rail line needed to link the $16.5 billion Carmichael project to the Port of Abbot Point.
“The Carmichael project could create almost 6,500 jobs and this agreement will see the Queensland Government invest in the rail line needed to carry coal to port. The mine and rail project has received both State and Commonwealth environmental approval and will be subject to 226 environmental conditions,” the Premier stated.
Deputy Premier and the Minister for State Development, Infrastructure and Planning, Jeff Seeney said the announcement demonstrated the State government’s commitment to building a stronger future for Queensland.
“Agreements such as these are what sets us apart from Labor. Our government takes a long-term, strategic view of the roads, rail and community infrastructure needed to create a better Queensland, and we find innovative ways of making them happen. Adani’s Carmichael project is expected to inject $500 million into Queensland’s economy during construction and $3 billion at full export capacity,” Mr Seeney said.
“This is the revenue that will build the schools, hospitals and roads our State needs in the future. Our decision to help build the rail link for this project will get it happening more quickly and ensure its benefits start to flow to the people of Queensland. Today we have signed the first of these agreements with Adani, but the State is open to negotiating similar agreements with all proposed Galilee Basin miners.”
Adani Australia CEO, Jeyakumar Janakaraj said the agreement reflected the Queensland Government’s clear focus on ensuring the state was a leading energy exporter and job creator for Australia into the future.
“Adani is well-established in building its long term future with Queensland, with several billion dollars in investments already made across the company’s integrated mine, rail and port project. The Queensland Government’s announcement that it will pursue an infrastructure enabling investment strategy is a welcome one,” Mr Janakaraj said.
“It gives confidence to investors who considering their long term plans in the basin that the state is committed to the best possible infrastructure being in place to support the further development of the Galilee, and the jobs and exports that will provide.”
It’s estimated the proposed standard-gauge rail line subject to today’s agreement will take approximately two years to build, be able to transport 100 million tonnes of coal a year and pump up to $790 million into regional Queensland’s economy and over $900 million into the state economy during its construction phase.