Consortium set up to make proposed integrated iron and steel plant near Karratha

8/12/99
Today's announcement that a number of significant Australian and international companies had joined together to make a proposed $5 billion integrated iron and steel plant near Karratha a reality, is a positive step forward for the project and for Western Australia, according to WA Resources Development Minister Colin Barnett.
The Minister said this morning that the nine Australian and international companies making up the Austeel consortium were well-known to the State's resources sector with successful track records over many years in their respective fields of expertise.
He said the Austeel team would continue working on the development of its iron and steel project at the Fortescue iron ore deposit, 80km south-west of Karratha.
The project includes a mine, concentrator, pellet plant, direct reduced iron (DRI) plant, and steelmaking facilities, as well as a transport link to a new deepwater port at Cape Preston.
Dedicated power and water desalination facilities are also planned.
"The State Government has worked with the project's proponents over a number of years to assist in advancing issues such as land allocation, service corridors and port development," Mr Barnett said.
"The Department of Resources Development has been working with the company on a State Agreement and this is now in its final draft form.
"While further issues still remain to be addressed, including site-specific work, the development today indicates a progressive outlook for the project and industrial development in the Pilbara region in general."
Mr Barnett said the international resources industry was now picking up momentum following last year's economic downturn in Asia, with recent announcements pointing towards a positive time ahead, particularly for the resource-rich Pilbara region.
"WA is considered as a highly attractive location for resources development and importantly, as the Government continues to progressively deregulate the energy industry, the State is increasingly well-placed to compete in the international arena for sophisticated value-adding projects such as that being developed by Austeel."

Media contact: Justine Whittome, (08) 9222 9699