Facilitating inward investment
Perth by night courtesy of PCEC
Mrs Kerry Sanderson AO, Agent General for Western Australia (WA) presented to an audience of business interests at the Australian Infrastructure Opportunities Day held in February which was jointly organized by UK Department of Trade & Investment (UKTI), Australian States and Austrade.
The aim of the day was to highlight the range of infrastructure and investment projects underway in the Australian market and the benefits of investing or participating in such a dynamic and established market environment. It was estimated that the total value of the pipeline of infrastructure projects in Australia is AUD$100 billion/£63 billion per year.
As a leader in the oil and gas field, including iron ore, a conservative estimate of investment in the pipeline for WA is AUD$170 billion in oil and gas and resource related project developments, underway or likely to go-ahead, in the next five years. Developments such as Gorgon LNG, Pluto LNG and Wheatstone LNG are forecast to be an integral part of the developments which will push Australia to number two in the global list of LNG exporting countries.
To support the timely introduction of some of these developments, the WA State Government is facilitating the planning and approval of infrastructure such as the Ashburton North and Browse LNG gas-processing estates in the north of WA and the Oakajee Port and Rail project in the State’s mid-west, north of Geraldton.
Overlaid on these developments are those in the mineral resources arena. Over A$20 billion of iron ore developments are planned by Rio Tinto, BHP Billiton and Fortescue Metals for the Pilbara region alone. WA currently produces an impressive 22 per cent of the world’s iron ore, 23 per cent of the world’s alumina and 14 per cent of the world production of nickel.
By meeting with the group from the UKTI, WA had the opportunity to re-introduce the State to a UK business audience that are looking for opportunities in an area which is safe and secure and seeking more knowledge on the developing strength of the State.
The event was addressed by Sir Rod Eddington, Chairman of Infrastructure Australia and former CEO of British Airways and Pete Hagen, GM Gas Commercialisation at Chevron as well as a number of others and delivered in partnership with Austrade and the Agents-General for the key Australian states. It was designed to provide UK companies a unique opportunity to learn more from industry experts on specific project opportunities and to find out how to win business and get involved as well as to understand the benefits of working with Australian partners.
In other investment news, fund management firm JPT Capital have launched the new Agrifund to invest A£50m in Australian Wheat Farming, with the location selected being Western Australia. The fund will not only invest in the production of wheat but also the underlying land.
To view a presentation on the investment market in WA visit here alternatively for a more comprehensive understanding of the strength of the State covering agriculture also visit here.
