Magnis Resources Limited (“Magnis” or the “Company”) (ASX:MNS) has announced that Woodstock in Queensland as the site location for the Townsville Lithium-ion Battery Gigafactory.
Townsville City Council today approved offering the land in Woodstock, in exchange for equity in the project.
Site selection is a key milestone that demonstrates the commitment by all parties, including the local and state government, to fast track the Gigafactory. The project will now move into a feasibility study to initiate the design and engineering phase.
Woodstock is located on the Flinders Highway, approximately 40kms from the Port of Townsville. The parcel of land offered is roughly 400 hectares and is on flat terrain and high lying with major infrastructure including rail, power and fibre-optic cable.
In recent weeks, meetings have taken place with senior officials of Townsville City Council and Members of Parliament in the Queensland State Government. This resulted in the identification and provision of several potential local council and state development sites, which meet the consortium’s criteria. Independent engineers, along with key members of the consortium, visited all sites and chose Woodstock as the most suitable location for the battery plant.
Townsville City Council Mayor Cr Jenny Hill commented: “As I have stated on many occasions, the Townsville Lithium-ion Battery Gigafactory could be the biggest stimulus ever for the Townsville economy with the potential of 7,000 jobs created. We are committed to making sure that this project is our number one priority.”
Chairman of Magnis Resources Frank Poullas commented: “Today’s announcement shows how serious all stakeholders are in getting this battery plant up and running and the consortium is excited by the interest coming in from potential buyers of the batteries and funders.”
Boston Energy and Innovation Director Corey Cooney added: “Today’s announcement is an important step forward for the Townsville battery plant. We are encouraged by the support we continue to receive, especially from government bodies.”