$ 640M BIO BID IS OVER

INGHAM’S dream of becoming home to a $ 640 million North Queensland Bio- Energy Corporation mill is over.

In a statement to media yesterday, NQBE chairman Robert Carey called the decision to close the project down a “halt” in proceedings. He said it was caused by inconsistency in the Federal Government’s climate and energy policies.

Farmers like Victor Reinaudo, 67, whose family had invested “hundreds of thousands of dollars” in the project, have been left devastated.

Mr Reinaudo said other farmers had invested “a lot more” into the hi- tech mill than his family. He said that overall, investment amounting to millions of dollars had been lost in the district.

“Farmers have stretched their necks out and lost it all,” he said.

Mr Reinaudo had unlimited faith in the project. More than that, he saw the bio- mill as a stepping stone into the future for young farmers.

Now, he says farmers are locked into supplying “100year- old mills” and working for an antiquated supply- payment system.

“Will people invest in a new mill like this again after this kick to the guts ( by the Government)? This was a light at the end of the tunnel for young growers. There were farmers hanging their hats on this project going ahead. It wouldn’t surprise me now if they sell out,” he said.

Mr Reinaudo did not blame the committee or Mr Carey. He said the Government should have done more to help the mill become a reality.

One man who wasn’t sorry to see plans for the mill come to a “halt” was Como Rd cane farmer, Sam Torrisi.

Mr Torrisi, 60, whose farmhouse would have been next to the proposed mill, has been a long- term opponent.

He said his wife Janine had been raised in the house and the possibility of the mill going ahead had impacted his family.

“It stressed me out. There were many farmers who said they were on my side, but would not speak out. It took a lot out of me, but I am Sicilian. I’ll get over it,” he said.

Mr Torrisi said although he had opposed the mill and did not want to see it happen, he felt sorry for people who had invested in the project.

Mr Carey said the Government’s constant changing of climate and energy policy had caused uncertainty in the market.

He said the Australian Renewable Energy Agency had provided grant funding to solar and wind farm proponents.

This, he said, allowed the operators to channel electricity into the national electricity grid at “heavily discounted prices”.

He added that base- load coal- fired power stations and projects like NQBE that would operate 24/ 7 – irrespective of wind or sun conditions – were not eligible for funding from the renewable energy agency.