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Plans for $6 billion steel plant progressed

Gladstone Observer, 7th March 2015

PLANS for Gladstone’s $6-billion steel plant have progressed, with a group of Malaysian investors actively seeking foreign investment approval from the Federal Government.

Despite being one of the biggest proposed projects in the state, Euroa Steel Plant Project did not get a mention in the Queensland Major Contractors Association and Construction Skills Queensland report released this week.

But, chief executive David Simpson said if the investors were approved, construction is on track to begin next year – just two months behind schedule.

The company’s environmental impact study is in its final stages.

But the company still needs to start negotiations with the new State Government to gain access to the land in Yarwun to conduct soil testing.

“We want to line everything up to ensure it’s more tangible, so that people can have confidence that the project is really happening,” Mr Simpson said.

“Our original aim was to have all of this year (2015) planning to commence construction in 2016.

“As soon as we get Foreign Investment Review Board approval the initial funding can commence and we can get to ‘construct ready’.

CORPORATE HISTORY:

Boulder Steel went into administration in 2012

A rescue bid was launched in 2013 to get the project back on track

The Observer started a campaign at the end of December 2013 to encourage investors to help the rescue effort

The company came out of administration in August 2014

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