HELLS BELLS
DAM PROJECT COULD BOOST REGION WITH 12,000 JOBS
THE Hells Gates Dam could flood the North with jobs during construction, open vast agricultural opportunities and provide long- term water security for Townsville and Charters Towers.
A summary of the Hells Gates Irrigation Scheme feasibility study seen by the Townsville Bulletin shows the project would generate about $ 1.2 billion in household income and create 12,647 full- time equivalent jobs during construction.
Hells Gates would also have “major” pumped hydro power generation in North Queensland with about eight hours of electricity storage.
THE Hells Gates Dam could generate more than 12,000 jobs in its construction phase and contribute millions of dollars to the local economy, according to analysis of the multibillion- dollar project.
A summary of the Hells Gates Irrigation Scheme feasibility study, seen by the Townsville Bulletin, shows the project would generate about $ 1.2 billion in household income and create 12,647 fulltime equivalent jobs during construction.
The expansive water scheme would be expected to enable up to 50,000ha of irrigated agriculture and provide long- term water security for Townsville and Charters Towers.
Once operational, Hells Gates would be expected to deliver horticultural and broadacre cropping that would contribute about $ 797 million to the gross regional product.
Depending on cropping scenarios the benefit cost ratio of the project would be between a 1.4 and 0.68 return on the dollar investment.
This would result in a net present value of between $ 1.2 billion and negative $ 1 billion, with an internal rate of return of between 9.8 per cent and 3.9 per cent.
Hells Gates would have “major” pumped hydro power generation in North Queensland with about eight hours of electricity storage.
The summary said the project would also have potential for “super battery” pumped hydro.
Deputy Prime Minister and Infrastructure Minister Michael McCormack said he was looking forward to the feasibility study being finalised and analysing its findings.
“The Australian Government is serious about developing water infrastructure which can help to grow regional economies and boost economic activity, especially for our farmers,” he said. “When our farmers are productive and strong, so too are our regional economies and therefore our national financial wellbeing.”
Mr McCormack said the Hells Gates proposal was a “nation- building” project.
“That’s why we are committed to developing water infrastructure projects like this because we understand water is the lifeblood of farming production and the economic activity it drives for our regional communities and the nation,” he said.
Resources and Northern Australia Minister Matt Canavan said he welcomed the feasibility study on Hells Gates Dam.
“We are serious in the Coalition Government about developing Northern Australia and particularly in developing its water resources,” he said.
“We have established the National Water Infrastructure Development Fund and provided the $ 2.2 million to fund this feasibility study.
“The Burdekin system carries an enormous volume of water in an average year and we want to see it utilised further for boosting jobs and the economy in North Queensland.”