North Queenslanders will receive hundreds of work opportunities, following successful financing of a $1.5 billion energy development.
CuString recently secured a $17 million loan from Korea Zinc Company for the CopperString 2.0 High Voltage Transmission Line between Townsville and Mount Isa.
Premier Annastacia Palaszczuk believes the financing agreement will help the proponent quickly create 750 construction jobs and a further 30 operational positions from as early as mid-2021.
“It is big projects like this that will help in Queensland’s economic recovery and long term growth opportunities. This builds on our $50 billion infrastructure guarantee and means jobs, jobs, jobs for North Queensland are a step closer,” she said in a public statement.
Positions are expected to be advertised within months and jobseekers can click here to sign-up for alerts on CuString’s LinkedIn page.
The State Government previously underwrote the project to guarantee payment, if loss or damage prevents the proponent from meeting its financial obligations at the project.
“That is why I announced my government had entered into an implementation agreement with CopperString late last year to provide certainty for the project and the jobs it provides,” Palaszczuk said.
This project involves building:
- a 275 kV AC double circuit transmission line, spanning 1100km between Woodstock and Chumvale
- support towers made from either galvanised steel self-standing lattice or guyed galvanised steel lattice
- new substations at Chumvale and Woodstock where the line will be connected to the national electricity grid
- at least four construction zones with a central camp, project office and temporary construction camps
- access tracks.
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Deputy Premier Steven Miles described the proposal as the “most transformative project” for the North Queensland economy since the Great Northern Railway reached Mount Isa back in 1929.