Just getting an idea how big the expansion of the Mid West will be when the port-harbour at Oakajee is built, whoever wins the stakes to build it. The WA govt. owned estate surrounding the proposed Oakajee port is 6,500 sq km, 1100 hectares of this is zoned for heavy industrial, 200 ha zoned for support industries. The estate awaits serving – power water gas. (from document of the Mid West Development Commission).
It is in the same document the Eneabba gas powered power station is figured as a $100m+ development, and from the timeframes there, it looks as though it is behind schedule. Construction was due to commence Nov. 06. ENB holds one of 9 reserve capacity supplier certificates under WA’s wholesale electricity agreement (2006).
Another thing noted - if MMX-Mitsubishi build the port, it is not due to commence til 2009. The proposed 330 kW power transmission line Pinjar-Geraldton is targeted for 2010. By 2010 there will be "severe capacity constraints" in power for the region.
No idea whether it will be bought out or remain independent, but I expect it will figure largely in infrastructure developments, having the licences in place. While the market scrambles into the mid west iron ore stocks, I’m scrambling into ENB – power for the Mid West! Not sure which year our Chrissy present will be, Olympian, there is a Herculean-sized building spree ahead!
ENB Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
