Northern Water Supply Project - Cape Hardy Desalination Plant

Significant news for IRD - major funding announced for NWS.

All the big players (BHP, FMG, Origin, and importantly IRD’s hydrogen partner Amp) are funding pre FID costs of $200m - $230m, and are most likely going to be the offtakers for the water

Cape Hardy is the preferred site for the desalination plant - this will have re-rate the land valuation

Stage 1 to be complete by 2028

$5bn capex

https://www.premier.sa.gov.au/media-releases/news-items/industry-and-government-to-partner-on-next-stage-of-northern-water#:~:text=Attributable%20to%20Anna%20Wiley%2C%20BHP,benefit%20multiple%20sectors%20and%20businesses

Let’s see if the market bothers to notice