Newsroom

June 21, 2018

KAP state leader and member for Traeger Robbie Katter has used today’s announcement by GENEX and the Northern Australian Infrastructure Fund (NAIF) to highlight the potential of North Queensland as a major infrastructure investment destination.

“It’s great to hear GENEX has received conditional approval for a loan from NAIF,’’ he said.

“It shows the Facility is keen to invest and I’m sure there is more to come given there are so many quality projects in the North and North West.’’

Mr Katter highlighted the huge opportunities for both renewables and traditional industries, such as mining, if the right infrastructure investments are made.

“The minerals and energy supply chain between Townsville and Mount Isa is perhaps the biggest driver of the economic activity in the North,’’ he said.

“The resources extracted in the North West Minerals Province (NWMP) generate more than ten thousand jobs and billions of dollars in economic activity in Townsville and the North West through mining, processing, transport and associated services.

“However, the entire North is fighting with one hand tied behind its back due to a lack of infrastructure investment by successive Governments.’’

He said the high cost of energy in the NWMP was a prime example of why investment is needed.

“Currently the NWMP is isolated from the National Electricity Grid and this means mines and businesses are paying some of the highest energy costs in the world,’’ Mr Katter said.

“Connecting the NWMP to the National Grid would not only bring down energy costs in the North West it would allow the renewable projects in the region to supply directly to our world-leading miners.

“It would also have the benefit of bringing the 400MW of gas fired generation currently in Mount Isa into the Queensland system which would help to fill power needs when wind and solar are off-line.’’

“I hope to see more out of NAIF over the coming months and I challenge the State Government to do their bit to develop the Townsville to Mount Isa energy resources supply chain.

“Both NAIF and the State Government should be investing in the projects that maximise the value of the supply chain between Mount Isa and Townsville to secure the economic future of the whole region.”