I personally would like to see them do a deal in Australia first...

I personally would like to see them do a deal in Australia first so they cement their position here. It would be a shame to see potential rivals over shadow ESI in the coming years in their own backyard.

I thinks it's important that ESI can hang it's hat somewhere in Australia-most likely LV where there's a heap of BC and a potential export industry in the waiting.

Despite this though it's probably easier for the company to create opportunities overseas right now. If we see a final execution with Vic Cap over the next few weeks it just goes to show how agile Asian market players can be.

Of course as highlighted there are costs advantages associated with cheaper overseas labour and othe rbuilding costs however logistic costs will also need to be factored in depending on where the end product is intended to be utilised.

Industry developments in Victoria and Australia are slow. ESI may simply be forced to choose the overseas commercial pathway first because of drawn out bureaucracy in Australia and slow moving large players.

If you take WEC for example, they mostly have overseas ventures.

Cheers,