Start time mooted for $4b Gladstone steel plantBy William...

Start time mooted for $4b Gladstone steel plant
By William Rollo

Posted 7 hours 2 minutes ago
Map: Gladstone 4680

The head of a company proposing a $4 billion steel plant in Gladstone in central Queensland says it wants to start construction within the next two years.

Boulder Steel has signed an investment agreement with the China Metallurgincal Corporation for a steel production plant in Gladstone and is in talks with two other Chinese steel firms.

The company has until the end of next month to lodge its environmental impact statement (EIS) but managing director David Simpson says it should be ready next week.

"We've been lodging it chapter by chapter with the coordinator general and it's not all lodged yet but the vast majority of it is lodged and will be by the end of next week," he said.

"The general number we're working on to start development [is] within about 18 months from now."

Mr Simpson says low commodity prices will not affect investment talks.

"Our potential investors are all long-term investors in what is in essence a heavy industry steel plant that'll be making steel slabs that'll be finished in someone else's rolling mill," he said.

"That's not the issue for us - the issue isn't really part of the connection as to whether an investor wants to invest in our project."


http://www.abc.net.au/news/2012-10-16/start-time-mooted-for-4b-gladstone-steel-plant/4315188

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