BRISBANE, Queensland, Aug. 20 -- The Queensland Department of the Premier and Cabinet issued text of the following statement:
Deputy Premier, Minister for State Development, Infrastructure and Planning and Minister for Industrial Relations
The Honourable Jarrod Bleijie
The State of Queensland, Minister for Economic Development Queensland and Fortescue have reached a confidential settlement to resolve their dispute over the former State Government's public funding contributions to Fortescue's electrolyser manufacturing facility in Gladstone.
Whilst the terms of settlement are confidential, the settlement ensures that value from the State's $66 million investment has been retained in Queensland for Queensland taxpayers, including through the transfer of the project land, electrical substation and associated common-user infrastructure, together with other agreed arrangements.
This settlement recognises the assets and infrastructure remaining in Queensland and allows both parties to move forward.
ENDS
MEDIA CONTACT: Ash McDermid 0412 731 355
Disclaimer: Curated by HT Syndication.
