The head of a company proposing a AUD 4 billion steel plant in Gladstone in central Queensland said that it wants to start construction within the next two years.

Boulder Steel has signed an investment agreement with the China Metallurgincal Corporation for a steel production plant in Gladstone and is in talks with two other Chinese steel firms.

The company has until the end of next month to lodge its environmental impact statement but managing director Mr David Simpson said that it should be ready next week. He said that "We've been lodging it chapter by chapter with the coordinator general and it's not all lodged yet but the vast majority of it is lodged and will be by the end of next week.”

He said that "The general number we're working on to start development [is] within about 18 months from now."

Mr Simpson said that low commodity prices will not affect investment talks. He added that "Our potential investors are all long-term investors in what is in essence a heavy industry steel plant that'll be making steel slabs that'll be finished in someone else's rolling mill. That's not the issue for us the issue isn't really part of the connection as to whether an investor wants to invest in our project."

Source - ABC NET

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