APA raises $500m for growth projects

GAS pipeline provider APA Group has tapped shareholders for $500 million to fund growth projects in excess of $1.2 billion.

In August last year APA announced a record number of growth projects over FY18 and FY19, including gas pipeline instalments in WA and the east coast, a new processing plant in Victoria, and renewable projects in both WA and QLD.

Spending is set to reach a record $900m this financial year, and projects earmarked for FY19 were expected to reach between $300m and $400m.