Battery plant pressure
PRESSURE is growing on state political parties to support a $ 2 billion battery factory project in Townsville as more information is released on the proposal.
The Australian newspaper yesterday quoted from an information memorandum developed by the venturers showing the facility was fore- cast to create 1000 jobs, including 746 technical and manufacturing positions, and $ 2.5 billion in sales revenues.
But the Townsville project is proposed for a greenfield site with significant upfront costs for infrastructure to service the site.
Former Macquarie banker and consortium chairman Bill Moss told The Australian progress had been slower on a Townsville plant than in other locations and that a decision on whether to proceed in Queensland rested with the State and Federal governments. The consortium, involving graphite developer Magnis Resources, Mr Moss’s Boston Energy and Innovation and US companies C4V and C& D Assembly, has already secured funding of US$ 13.25 million ($ 17 million) from New York State government for stage one production in a lithium- ion gigafactory at Huron Campus in New York.
Magnis also signed a memorandum of understanding last month with a German publicprivate partnership to develop a lithium- ion battery factory and recycling plant in Germany’s North Rhine Westphalia region.
Magnis chairman Frank Poullas, also a member of the Boston Energy and Innovation advisory panel, said Townsville was the first site announced but so far had not secured government support.
“We are focused on Townsville ( but) it’s obviously important for us to get support from the government,” Mr Poullas said.
Townsville Mayor Jenny Hill said she was looking to both Labor and the LNP to support the battery plant by making a commitment to fund the feasibility study for the project.
Townsville MP Scott Stewart said he and the State Development Department had not yet seen the consortium’s information memorandum.
“I would support this with every sinew of my body if it stacks up,” Mr Stewart said.