Seeney Drops The Ball On Abbot Point

Media Release.

 

Deputy Opposition Leader, Tim Mulherin, says the LNP government has dropped the ball on development of a multi-cargo export facility at Abbot Point.

“Today’s statement by Deputy Premier Jeff Seeney just shows how hypocritical and piecemeal his and his government’s approach to Abbot Point has been,” Mr Mulherin said.

“The former government had already attracted significant interest in a multi-cargo facility for Abbot Point that would have supported further industrial development in the Bowen region in addition to the coal industry.

“The MCF would have allowed for the export of bulk goods other than coal and had the potential to provide a significantly greater capacity for exports through Abbot Point.

“The multi-cargo facility stood to generate an estimated $9 billion in investment with an eventual capacity of 400 million tonnes per annum.

“Last financial year North Queensland Bulk Ports Corporation invested $19.8 million in this project only for the Deputy Premier to walk away from it.

“Construction of the new MCF would have been delivered by the private sector under the successful model used for the Wiggins Island coal terminal.”

Mr Mulherin said since the LNP announced its decision to abandon the MCF Indian Coal company GVK had told investors: ”The recent cancellation of the MCF has resulted in T3 being one of the last coal terminals to be developed in Queensland.”

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“Clearly industry itself sees the Newman Government has limited options for the future development of the mining industry in Queensland while slugging it with $1.64 billion in royalties.

“The previous Government committed funding to a State Development Area at Abbot Point with $5 million earmarked last financial year. For the Deputy Premier to re-announce this after stalling is hypocritical in the extreme.

“The Deputy Premier has been out there trying to say that he is growing the economy. But the Mid-Year Review released by the Treasurer yesterday shows the LNP has slowed Queensland’s economy since being elected and it won’t recover for many years to come.

“This economic slowing has been accompanied by unemployment now forecast to be above Global Financial Crisis levels for the next two years.

“While the Deputy Premier talks of $78 billion of investment in the pipeline you won’t hear him say a word about the record level of $102 billion of projects underway in Queensland when Labor left office as assessed by the Deloitte Access Investment Monitor. Back then there were also $92 billion in projects in the investment pipeline.

“It is clear that this LNP government has already slowed Queensland’s economy as they set about an ideological program of slashing and burning which they never mentioned before the election,” Mr Mulherin said.