If approved, the $5 billion infrastructure corridor will include pipelines for water and iron ore slurry, power networks and fibre optic communications.
It will be used to transport iron ore from the north-east of the state to a floating storage, processing and offloading facility in the Spencer Gulf, off Yorke Peninsula, north of Wallaroo.
Gordon Toll from Braemar Infrastructure said about $3 billion would need to be raised and a development application lodged before the project could go ahead.
“We’re a private company, we’ll probably stay that way for some time because one of our major sources of finances will be private equity, private equity groups, there is a lot of money out there for private equity, investment groups looking for something just like this to invest in,” he said.
“The †project will allow for an eight-fold increase in the amount of iron ore currently being exported and provide a 385-kilometre infrastructure corridor.”Ě Mr Koutsantonis said.
Deputy Premier and Planning Minister John Rau said: “Major development status allows for the most sophisticated and thorough set of planning approvals available within our planning regime.
“There is a strong level of scrutiny applied to the project’s assessment, with significant consultation requirements.”
Infrastructure and Mineral Resources Minister Tom Koutsantonis said in a statement on Tuesday:†”When fully developed the project has the potential to increase the state’s exports of iron ore concentrate from 12 million to more than 100 million tonnes per year.”
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