Two New Massive Coal Export Terminals Approved For Queensland...And that is Great News for the Local Economy

Queensland state premier, Anna Bligh, announced in Brisbane earlier this week that Australia had awarded huge parcels of land to two companies, one Indian and the other Canadian, for the purpose of constructing massive coal export terminals.

The two companies, India’s Adani and Canada’s Brookfield Infrastructure Group, were each awarded 469 acres of land located in an area known as northern Dudgeon Port (that’s nearly one thousand acres in total) for a single purpose – to develop two new coal terminals.

Total investment in the projects is expected to reach about $10 billion U.S., all of which should help stimulate the economy in and around Queensland.

In fact, the two companies anticipate hiring as many as 5,000 workers for steady, long-term, full time jobs. The prospect of so many men and women getting – and keeping – good-paying jobs means that other businesses in the area  -- those that provide a variety of products and services – restaurants, clubs, clothing stores, appliance stores, supermarkets and so many others, will prosper, as well.

Clearly, this huge new project is going to help Queensland and its many residents to overcome the financial malaise that has affected much of the civilized world for the past few years.

The terminals are currently scheduled to be “up and running” in 2013. When operational, the combined annual production capacity for both terminals is expected to reach 180 million tons of coal per year … a figure that is 50 million tons greater than current production capacity.

The two companies, and the Queensland authorities, entered into this arrangement because both sides believe – strongly – that the demand for energy is likely to grow dramatically in the years ahead … both short-and-long-term.

If that’s true, the two companies and Queensland and its residents are likely to reap significant financial benefits.

Queensland has been extremely aggressive in pursuing foreign companies and offering “sweetheart” deals to get them to come to Queensland … hire its workers … and then develop and run projects locally.

This newly-announced deal with the Indian and Canadian companies indicates that Queensland’s strategy is working.  And that’s certainly very good news for the skilled workers living in the area.

News and information that is current and up-to-date is available every day at E-fab.com.au, the “go-to” website for fabricated steel professionals living in Australia and around the world.

That’s why we invite you to “visit” us daily.