REVEALED: Rocky poised to reap $8 billion in Adani rewards
AS THE battle over the Adani Carmichael Mine's future rages on, Rockhampton has eight billion reasons to ensure it succeeds.
The dollar value to the Rockhampton Region for the controversial coal mine succeeding continues to be overlooked while headlines are grabbed by environmental activists and an increasingly sceptical Opposition Leader Bill Shorten.
If the mine were to become a reality, Rockhampton Region mayor Margaret Strelow revealed it would be worth a staggering $8.1 billion to the Rockhampton region over the next three decades.
Cr Strelow said during the initial construction phase, 1100 jobs were set to be created before transforming in 625 ongoing, full-time operational jobs for the Rockhampton region.
When Rockhampton Regional Council was asked how they arrived at the magical $8 billion figure, they said it was based on "an estimated $90M per annum into the regional economy by direct wages spend, or $2.7B over the next 30 years".
"Multiplying the indirect benefits to the economy over the next 30 years gives a return of $8.1B," they said.
This project was viewed by RRC as a foundation which allowed further development and diversification of the local economy, assuring Rockhampton's future prosperity.
In return for these employment opportunities, RRC intended to contribute $15.5 million to fund the airport at the mine site.
Presently this allocated money remains unpaid and was secured "until the mine reaches the point of no return".
Adani Australia currently employs 800 people in projects in Queensland, pays $7.2million in salaries to its direct staff and seconded employees and had already invested over $3.3billion in Australia.
An Adani Australia spokesperson said they would not be investing their time, money and energy in this manner if their projects were not viable.
With many banks refusing finance to Adani for the Carmichael Mine already, it awaits to be seen whether Adani will secure financing for their project before their self imposed end of March deadline (at the end of the Indian financial year).
Even if Adani were unsuccessful obtaining finance, they could rely on other options to ensure the project succeeded.
Newscorp's John McCarthy said Adani had shown its ability to raise funds by this week refinancing hundreds of millions of dollars in debt for the Abbott Point coal port, which showed investor faith in the port's viability.
He said they could sell their Abbott Point coal port or a stake in the mine project with rumours suggesting that international investment funds were willing to take up that option.
For its mine project, Adani's current activities include continuing to seek cultural heritage clearances, conducting environmental studies and surveying, exploration camp operations and maintenance.
They are undertaking detailed design for the accommodation village, airport, communication tower and coal handling and processing plant.
Adani were also commencing the drilling of test bores, installing additional monitoring bores while also continuing on-site water monitoring.
Its community engagement team is in regular contact with neighbouring property owners and shortly Adani plans to open up tenders for subcontractors for a range of activities including earthworks.
For its Carmichael Rail Project, Adani is currently undertaking detailed design activities.
Its consultants are continuing with the finalisation of all field data in preparation for factual reporting and rehabilitation of the completed sites.
Negotiations are ongoing with contractors, major supply packages, civil/earthwork, track work and signalling and communication packages.
Its environmental focus is on supporting work in the camps areas, including field survey works relating to the ecology and land contamination.