Govts to fund WA commodities port

The federal and West Australian governments have each pledged $339 million towards a
deep-sea commodities port, which will include investment from China.
The Oakajee development, near Geraldton north of Perth, is expected to enable 63
million tonnes of iron ore to be exported by 2023.
The project will also include a channel and breakwater.
The West Australian government says the construction phase of the development, from
2010 to 2014, will create up to 2,000 jobs.
When completed, the infrastructure project will sustain 400 jobs.
The Oakajee Port and Rail will invest $160 million during the next year on planning
studies.
The private-sector infrastructure consortium is jointly owned by the Chinese
government-owned Sinosteel Corporation, through its stake in Murchison Metals, and
the Japanese Mitsubishi corporation.
West Australian Premier Colin Barnett said the project was the start of even closer
economic ties with Australia's key trading partners China and Japan.
"If I can say so prime minister, this represents an example of a truly joint project
between Australia, Japan and China and it's the start, I think, of a new generation
of Australia's commercial relationship with that part of the world," Mr Barnett told
reporters at Oakajee.
Mr Rudd said Oakajee and the mid-west of the state would become a major part of
Australia's economic future.
"Oakajee and the mid-west are very big names now for the future as well," Mr Rudd said.
Mr Rudd said it was important for the public sector to increase its investment in
infrastructure during the global economic downturn.
"These are really important developments. It's not just the jobs that are being
generated through the running of that port," he said.
Mr Rudd announced Infrastructure Australia would work with the National Transport
Commission to develop a national commodity and container ports strategy in 2010 for
the Council of Australian Governments to consider.