QPM finance announcement welcomed
Date published: 17 December 2021
Townsville Mayor Jenny Hill has welcomed the announcement that Queensland Pacific Metals (QPM) has received conditional finance support from Export Finance Australia for its proposed Townsville Energy Chemicals Hub (TECH) project.
The TECH project will be one of the first developments to be established at the Lansdown Eco-Industrial Precinct, which is being developed by Council to secure the city and region’s economic future.
Cr Hill said the finance support, which includes up to $250 million in debt funding, is another important milestone for QPM’s project and the nation-leading industrial precinct.
“It is encouraging to see the support that QPM is receiving both nationally and internationally for its proposed Townsville Energy Chemicals Hub project,” Cr Hill said.
“I look forward to this jobs-generating project coming to fruition and the economic boost it will provide for Townsville and North Queensland.”
The Queensland Government declared the proposed TECH a prescribed project in late September, allowing the Coordinator-General to work with QPM to ensure all necessary project approvals are obtained in a timely manner.
Cr Hill said momentum was continuing to build behind the development of the Lansdown Eco-Industrial Precinct.
“Lansdown will be northern Australia’s first environmentally-sustainable advanced manufacturing, processing and technology hub,” she said.
“The precinct is perfectly positioned to spur economic growth and job creation for Townsville and North Queensland for decades to come.
“Just last week, Council announced four new project proponents had signed-up to establish themselves at the Lansdown precinct.
“RTE Energy Pty Ltd, Origin Energy Future Fuels Pty Ltd, Solquartz Pty Ltd and North Queensland Gas Pipeline have been conditionally allocated space in the precinct following a tender process conducted by Council.
“They join QPM, Edify Energy and Imperium3 Townsville who have previously been allocated space.
“We will continue to work with all proponents to bring their proposed developments to fruition and unlock the jobs and economic stimulus they will provide.”