$1.3B investment propels CopperString 2032 into construction phase

Image Credit: Queensland Government

The Queensland Government has unveiled a $1.3 billion investment package dedicated to advancing the CopperString 2032 project, underscoring Queensland’s dedication to delivering Australia’s most extensive transmission project.

This funding marks a significant stride toward commencing construction in mid-2024, a crucial milestone in unleashing the potential of the North West Minerals Province and the renewable energy capacity of North Queensland, the government said in a media statement.

The allocation empowers the publicly-owned energy cooperation Powerlink, in collaboration with construction partners UGL and CPB, to undertake meticulous design, engineering, and environmental assessments.

Furthermore, the project will be inviting tenders from local North Queensland companies to actively engage in this ambitious initiative.

Additionally, the funds will secure easements necessary for the CopperString 2032 project, according to the government.

The allocation encompasses the creation of 100 permanent project positions, the procurement of transmission equipment, the execution of all site investigations, and the advancement of site development activities, including camps and access works.

This investment is part of the estimated $5 billion required to bring the transformative CopperString 2032 project to fruition, heralding a new era for North Queensland.

It builds upon the release of over 40 works packages for Expression of Interest, encompassing a wide range of activities and services, such as engineering, construction, environmental management, logistics, camp construction, haulage, and communications.

Premier Annastacia Palaszczuk expressed pride in the government’s investment in this historic initiative, emphasising its potential to connect critical minerals worth $500 billion with the expansive renewable energy zone on Australia’s eastern coast.

“I am excited about the progress we have made so far in planning and designing this project. This funding allows the project to move into the construction phase,” the premier stated.

Treasurer Cameron Dick underscored the landmark nature of the investment, describing it as a pivotal step toward securing the future of North and North West Queensland.

“We are backing this project because we believe in the vision and the value it will create for North Queenslanders, now and for decades to come,” Dick noted.

Minister for Resources and Townsville MP Scott Stewart highlighted the significance of constructing this vital infrastructure in a manner that reflects the community’s involvement.

He stressed that the project should be approached with the same spirit that guided the construction of the stadium, where North Queenslanders were integral to its realization.

“Every element of this project will be delivered in compliance with our Buy Queensland procurement policy, ensuring as much of this investment circulates throughout North Queensland, building an even more resilient economy,” Stewart remarked.