Equipment & Technology, Mining and Heavy Industries

Palaszczuk commits $3.1m to Townsville lithium plant

Queensland Premier Annastacia Palaszczuk says her Government will spend $3.1 million on a feasibility study for a proposed $2 billion lithium-ion battery plant in Townsville, if it is re-elected on November 25.

Palaszczuk, campaigning in North Queensland this week, said the plant could support as many as 7,000 jobs.

“BEI estimates that at full capacity, the project would provide up to 1,000 jobs in the factory itself, another 1,000 jobs in support businesses and an additional 5,000 jobs supported in original equipment manufacturing,” the premier said.

The plant’s development is being driven by a consortium led by former Macquarie banker Bill Moss, which launched a $12 million capital raising earlier this month.

“After the election we look forward to meeting with the next premier to Queensland so we can fast-track the project,” Moss was quoted as saying by The Australian this week.

Moss’ consortium includes imaging technology giant Eastman Kodak, US electronics manufacturer C&D Assembly, and battery firm C4V, and wants to build factories in New York, the Middle East and Australia.

The $3.1 million commitment from the Palaszczuk Government is part of its $150 million plan for renewable energy developments in Queensland.

The premier says her Government is committed to a 50% market share for renewable energy in Queensland by 2030.

“Our Powering Queensland’s Future Plan sets out actions to make sure we get the balance right, delivering more of the cheapest form of new generation renewables sooner to complement our young and efficient fleet of coal and gas-fired generation,” the premier said this week.

“Getting the balance right will deliver affordable and stable power for households, business and industry.”

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