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Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT


Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal terminal at Gladstone on Australia’s northeast coast.

The project may start construction in mid-2010, creating up to 800 jobs during development and 300 once in operation, Premier Anna Bligh said in a statement. The terminal may double coal exports out of Gladstone to 150 million metric tons once completed, she said.

The Wiggins Island Coal Export Terminal group of 18 companies will build and own the new export facility, Bligh said. Gladstone Ports Corp. will operate it.

The Wiggins Island Coal group is “seeking expressions of interest from coal producers requiring new or additional export capacity through the new terminal,” Bligh said. “The financial close for those commitments is expected in July.”
Source: Bloomberg



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