Thursday, 03 Nov 2011
It is reported that a AUD 1.2 billion proposal for a central Queensland coal export facility will be rigorously assessed for its potential environmental, social and economic impacts.
Queensland Coordinator General Keith Davies has declared the Fitzroy Terminal, proposed for Port Alma, 50km south of Rockhampton, as a significant project.
The declaration does not indicate approval or endorsement, but signals the start of an assessment of the potential environmental, social and economic impacts.
The facility would have an export capacity of 22 million tonnes per year, generate up to 350 construction jobs and up to 150 operational jobs.
Deputy Premier Mr Andrew Fraser said it was important to secure appropriate infrastructure to service the growing mining industry in central Queensland, but there needed to be a balance with potential environmental impacts. He said that "If approved, the Fitzroy Terminal would help address the increase in demand for essential coal port facilities by providing an alternative port for smaller tonnage mines.”
The project is owned by a consortium including Queensland-based private investment group Mitchell Group Holdings.
The federal environment minister has also decided to conduct an environmental impact statement on the project.
The Queensland coordinator-general declares a proposal to be a significant project after considering its scale, complexity and technology components, as well as the potential effects on the environment.
(sourced from Nine msn)
Showing posts with label infrastructure status. Show all posts
Showing posts with label infrastructure status. Show all posts
Thursday, November 3, 2011
Friday, February 18, 2011
Budget update - Steel industry wants infrastructure status higher import duty and export tax of iron ore
Friday, 18 Feb 2011
The domestic steel industry, which raised prices in wake of some stimulus measures being withdrawn after the last budget, has warned of another price hike if stimulus is completely withdrawn in Budget 2011-12. An industry official said that “We will have no option but to pass on the burden to the consumers if excise duty concessions are withdrawn.”
1. Infrastructure status to the steel industry
The steel industry has also reiterated its long standing demand of being accorded infrastructure status. Steel firms have asked the finance ministry to grant infrastructure status to the steel industry. Such a move by the finance ministry would ensure long term funds and tax holidays for the steel industry.
A SAIL spokesperson told Business Line that “SAIL has submitted its demands and expectations from Budget 2011-12 to the finance ministry. The crux of it is that we want steel to be given infrastructure status. This would help in securing long term funds for the expansions taking place in the domestic steel industry.”
2. Hike import duty on HR coils
For the growth of industry, steel makers along with Associated Chambers of Commerce and Industry has called on the finance ministry to raise import duty on HR coils to 10% from the current 5%. ASSOCHAM in a statement said that “Pro active policy measures adopted by government of India can help extend HR coil capacity by an additional 8 million tonnes during 2011-12, making India surplus for HR coils by more than 6 million tones.”
3. Export tax on iron ore
Steelmakers have also asked the Finance Ministry to increase the export duty on iron ore. A Jindal Steel and Power Ltd spokesperson said that “Recent hikes in steel prices have been mainly driven by the increasing commodity prices. To contain this, the Government should consider increasing the export duty on iron ore.”
The government had last year raised export duty on iron ore lumps to 15%. The industry expects at least a 5% increase on the export of iron ore lumps, but it wants duty to be increased on iron ore fines as well.
An industry official that “It is time we start conserving iron ore fines as technology is coming up which will also make domestic steelmakers to use iron ore fines increasingly.”
(Sourced from BL)
Tags:Budget update, Indian steel industry, infrastructure status, higher import duty, export tax of iron ore, steelmakers, raw material, Indian government
The domestic steel industry, which raised prices in wake of some stimulus measures being withdrawn after the last budget, has warned of another price hike if stimulus is completely withdrawn in Budget 2011-12. An industry official said that “We will have no option but to pass on the burden to the consumers if excise duty concessions are withdrawn.”
1. Infrastructure status to the steel industry
The steel industry has also reiterated its long standing demand of being accorded infrastructure status. Steel firms have asked the finance ministry to grant infrastructure status to the steel industry. Such a move by the finance ministry would ensure long term funds and tax holidays for the steel industry.
A SAIL spokesperson told Business Line that “SAIL has submitted its demands and expectations from Budget 2011-12 to the finance ministry. The crux of it is that we want steel to be given infrastructure status. This would help in securing long term funds for the expansions taking place in the domestic steel industry.”
2. Hike import duty on HR coils
For the growth of industry, steel makers along with Associated Chambers of Commerce and Industry has called on the finance ministry to raise import duty on HR coils to 10% from the current 5%. ASSOCHAM in a statement said that “Pro active policy measures adopted by government of India can help extend HR coil capacity by an additional 8 million tonnes during 2011-12, making India surplus for HR coils by more than 6 million tones.”
3. Export tax on iron ore
Steelmakers have also asked the Finance Ministry to increase the export duty on iron ore. A Jindal Steel and Power Ltd spokesperson said that “Recent hikes in steel prices have been mainly driven by the increasing commodity prices. To contain this, the Government should consider increasing the export duty on iron ore.”
The government had last year raised export duty on iron ore lumps to 15%. The industry expects at least a 5% increase on the export of iron ore lumps, but it wants duty to be increased on iron ore fines as well.
An industry official that “It is time we start conserving iron ore fines as technology is coming up which will also make domestic steelmakers to use iron ore fines increasingly.”
(Sourced from BL)
Tags:Budget update, Indian steel industry, infrastructure status, higher import duty, export tax of iron ore, steelmakers, raw material, Indian government
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