The Federal Government has announced support of up to $11 million to help progress the CopperString 2.0 transmission project to Final Investment Decision in 2021.
CopperString 2.0 is a high-voltage transmission line that will connect the people and communities of Mount Isa and the North West Minerals Province to the National Electricity Grid.
It will supply electricity to existing customers in North West Queensland and deliver opportunities for new industrial facilities and large agricultural and renewable energy projects.
Prime Minister Scott Morrison said the funding would facilitate the delivery of the $1.5 billion project, which will create around 750 new full time jobs during construction and approximately 30 operational and maintenance jobs ongoing.
“Our support for CopperString is an investment in the future of Queensland that will bring power prices down, create 750 direct construction jobs and unlock the significant economic potential of the North West Minerals Province,” Mr Morrison said.
“Access to affordable and reliable energy supply will help drive new investment and new opportunities, providing a long-term future for families, businesses and local communities from Townsville to Mount Isa.”
Minister for Resources, Water and Northern Australia Keith Pitt said connecting north Queensland with the National Electricity Market would help deliver lower cost, reliable power to the state’s job-creating and export oriented regional industries and increase opportunities for the many other energy projects along the corridor.
“Queensland’s mining sector is a significant driver of Australia’s economic success story, and cheaper, more reliable power in the north will continue to support this important industry,” Minister Pitt continued.
“Affordable reliable electricity is essential in driving downstream manufacturing and creating more local jobs.
“This will help open up new investment and create new, high-paying jobs for the people of Queensland.”