oakajee port development on-track for 2011

Full steam ahead team !!!


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Oakajee port development on-track for 2011: project boss

12th May 2009, 11:15 WST



The consortium behind the $4 billion Oakajee port and rail development has signalled it is on-schedule, with construction to start in 2011.

Oakajee Port and Rail chief executive Chris Eves today outlined a more detailed timeline for the project, with a bankable feasibility study to start this month and clarification on the chosen rail corridor expected by the middle of the year.

Speaking at a Committee for Economic Development of Australia breakfast, Mr Eves said they had already spent about $60 million on the project, which is due to be up and running by 2013.

The ambitious project received a leg-up last week when the Federal Government approved a funding deal between China’s Ansteel and Mid West iron ore player Gindalbie Metals on the condition the groups use the Oakajee facilities as a foundation customer.

Securing foundation customers for Oakajee is considered to be crucial in getting the project off the ground.

OPR plans to build two berths capable of handling 35 million tonnes of ore a year, predominantly from Gindalbie’s Karara project, Murchison-Mitsubishi’s Crosslands Resources and Sinosteel Midwest.

Premier Colin Barnett has previously said that he expected the State and Federal Governments to funs about $678 million worth of public infrastructure such as the breakwater and shipping channel, leaving OPR to come up with about $3.3 billion.

KATE EMERY