News

Gladstone's next major project five years away

GLADSTONE is "in for a pause", according to Gladstone Industry Leadership Group chief executive Kurt Heidecker.

Despite several projects looking to start up, he told the audience at the Gladstone Engineering Alliance Major Industry Conference on Thursday he believed the next major project was still five years away.

He also suggested major agricultural projects could make a comeback, and said the current state of play was just an averaging out from a "sugar high" rather than a "bust" period.

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"It's healthy for our community to step back," he said.

"The current pace and pressure on the community couldn't be taken for much longer."

Mr Heidecker said while some areas would see minor capital works taking place, it would take two years for the economy to turn around.

"I was told one in three (new projects) would get up."

Mr Heidecker said he wasn't sure what the probabilities of success were.

"It could be another LNG train, but the re-establishment costs to build a new train is several billion dollars, so if they don't roll through and build another one soon then it will be some time away," he said.

"We have the expertise, the space, facilities, services. It's a conducive environment for it."

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Topics:  gladstone engineering alliance, gladstone industry, gladstone industry leadership group



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