PRIME MRAINISTE
FOR MEDIA 17 OCTOBER 1988
JOINT STATEMENT WI TH THE MINISTER FOR INDUSTRY, TECHNOLOGY
AND COMMERCE, SENATOR BUTTON
1I together with the Minister for Industry, Technology and
Commerce, Senator Button today welcome the decision by
North Broken Hill Holdings Limited, and Noranda Forest Inc
of Canada, to proceed with the building of a world scale
pulp mill in northern Tasmania.
This $ Al billion project is the largest single investment in
manufacturing in Australia ever made by private industry and
is of major national significance.
In many ways the investment decision is a watershed. The
project represents a major green field investment where
around 90 per cent of the output will be for the export
market. it will mean up to $ 300m net annual addition . to
the Balance of Payments.
The participation of Noranda Forest in this pybJect i
particularly welcome. With its extensive forest products,
interests and market network around the world, Noranda
Forest brings significant expertise to the project.
The North Broken Hill/ Noranda Forest decision to invest
reflects the underlying strength now evident in the
Australian economy. The improved competitiveness of
manufacturing following changes to company tdxation and
other important structural changes in the economy achieved
by this Government, has made major internatijonally oriented
growth in industry a real prospect.
The mill will be of enormous benefit to the Tasmanian
econoimy. It is expected that some 2,400 direct and indirect
jobs will be created during the construction phase and some
700 direct and indirect jobs in the operating phase.
Senator Button said the Government has worked closely with
the companies and the Tasmanian Government to ensure the
project went ahead.
" But the benefits are not limited to Tasmania. The local
content of the project, including infrastructure and
construction works, will be around 80 per cent. At least
per cent of the plant and machinery required by the project
will be sourced in Australia, which will benefit
manufacturing firms Australia wide. 2/
27 1106
I " This project will inevitably concentrate attention in other
I IJ asiremails aro f itnhvee stfmoernets tst o iandddu svtarlyu ew hetroe cutrhreernet iwso oodpcphoirpt uneixtpoyr tfso. r
" Such large scale internationally competitive pulp resources
) 88 will also open up the opportunity for downstream investment
in world scale paper manufacturing, another major step in
the value adding chain," he said.
For further information: Susan Mackintosh/ Mark Bannerman
Senator Button's Office
A ( 062) 77 7580 ( bh)
( 062) 73 3830 ( ah)
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