Shareholders meet as steel project moves on

GLADSTONE'S leaders have engaged in an open session about the future of Gladstone's steel plant, with positive feedback about the project that could offer the region 1300 full-time positions and an additional 500 maintenance positions.

Gladstone Engineering Alliance and Gladstone Regional Council engaged with Euroa Steel Plant Project (formerly Boulder Steel) directors David Simpson and Ross Johnson, as the project seeks financial backing of an estimated $5 million to complete the environmental impact statement and cover costs.

An important shareholders meeting, which would allow the business to come out of administration, is taking place on Wednesday after a six-month delay.

GEA general manager Carli Hobbs said the project would boost Gladstone's economy, "and it is fantastic to see their plans to construct means local businesses will win work".

"We felt there was a lot of incorrect information circulating the region regarding the project, and asked Mr Simpson and Mr Johnson to come up and address these concerns directly," she said.

"The team behind the Euroa Steel Plant Project are extremely passionate and are working hard to make this project happen."

First steel would be expected in 2018, following 68% of offtake agreements confirmed.

Getting on with the job - a message from Gladstone Steel chairman of directors Paul Sundstrom

A LOT of water under the bridge since we set out after Christmas to rescue the formally named Boulder Steel project, and in taking stock of progress, I felt it was appropriate to remind myself of the reason I got so involved in the first place, as well as the deliberations I went through before going ahead with it.

I felt enormous pressure to have a go at saving the project, as I had found myself "being the only one still standing, without a chair, when the music stopped".

But was frightened by the magnitude of the task, and the possible consequences if I failed. In the end I realised why there was no one else available, as there were five criteria that had to be met:

A very good understanding of the situation Boulder was in.

Able to immediately drop what I was doing, and go flat out for several months on it.

Have the experience and capability to believe I had a reasonable chance of success.

Have the known integrity to be trusted by the community with their money, as a normal trust fund would not have worked in this case.

Be fire-walled against the consequences of possible legal action. 

As a professional engineer, many years back, when there was no limit on the liability of the engineer, I set up a firewall structure to protect our primary assets, instead of paying silly money for professional indemnity insurance.

This project will have an enormous impact on the local area if it goes ahead, and the overwhelming likelihood now is that it will. 

Apart from the large number of construction jobs, it will provide something like 2500 permanent jobs, compared to the previous estimate of 1800, as we are now planning for a facility of double the size, made up of 1270 jobs on site, and 530 full-time maintenance jobs.

These new jobs are all created, as opposed to relocated from somewhere else, as 100% of the production will be exported.

And for every new job, at least the equivalent of another three jobs are created due to the new money being spent, which will mean at least 10,000 new jobs in all.

The project will also attract a lot of new industry to the area, and lead to the establishment of an economical domestic gas supply.

Topics:  boulder steel gladstone industry resources

Tenants flock to Gladstone as vacancy rates drop

NEW FIGURES reveal tenants should lock in a long-term lease now.

He gave his teen lover 'a joint' before bed

MARIJUANA: Dad denies smoking marijuana in front of his kids.

Gladstone man warned over smoking a joint with his teen lover.

He 'can't remember' Barney Pt crash after rum, beer binge

Christopher Holden leaves Gladstone Courthouse.

Binge drink driver hits parked van and then a pole in Barney Point.

Local Partners

Steve Irwin's final days through dad's eyes

Bob Irwin with his son Steve.

'You never expect that’s the last time you’re going to see your son'

Kristie doesn't mind being the third wheel in Survivor final

Kristie Bennett in a scene from Australian Survivor.

SOLO player will take on Survivor's power couple Lee and El tonight.

Scary hoping Posh and Sporty will re-join The Spice Girls

Mel B

Mel B hoping Victoria Beckham, Mel C will re-join The Spice Girls

REVIEW: Michael McIntyre has Brisbane in stitches

Michael McIntyre in a scene from his TV series Michael McIntyre's Comedy Roadshow.

BRITISH comedian is in the country on his Happy and Glorious Tour.

Cliff Richard doesn't need Rod Stewart's help with legal bills

Sir Cliff Richard

"'Don't worry, I'm loaded. I won't keep you to it.' "

Woolies announces closure of Ipswich store

Woolworths in the Ipswich Mall.Photo: Rob Williams / The Queensland Times

The last day of trading will be January 1

Coles to pay new owner of Tannum servo $320K

UP FOR GRABS: Expressions of interest in Tannum's new service station, which will house the new Coles Express, closed this month.

INVESTORS bid for new Tannum service station under construction.

Look at me! Kath and Kim home up for sale

Kath and Kim from the iconic Aussie TV series.

'Crack open the Baileys and grab a box of BBQ Shapes'

How to fit 100,000 new homes on the Coast

Property, real estate, housing, suburb,  August 2016

Fitting 2m extra people in south-east Qld in 25 years a balance

Hinterland horse stud passed in for $8.25 million

UNREAL: This Maleny estate is incredible.

12-bedroom hinterland horse stud still available

Hit songwriter's Noosa mansion on market

SPECIAL PLACE: The Cintamani estate is going to tender, marketed by Tom Offermann Real Estate.

Is this Queensland's best property?