Delivery of a business case for the TEARC which proposes an alternative rail route to the Port of Townsville.
Undertake work to identify innovative financing and value capture opportunities, and the wider economic benefits, related to the TEARC, acceleration of the SDA, and expansion of the Port. The delivery of the TEARC project will enhance regional development and economic growth through industrial investment attraction, allow for the development of additional jobs growth and skills, support trade and investment through the Port of Townsville and broaden industry development through enhanced supply chain opportunities.
Progress to date
Building Queensland and the Queensland Government consulted with Townsville City Council, the Port of Townsville Limited, Townsville Enterprise Limited and other key local stakeholders through meetings and a series of community information sessions. Building Queensland completed the detailed business case for the TEARC in late 2017.
Separate to the TEARC business case, the Commonwealth has been working with the Queensland Government and the Townsville City Council to explore innovative financing opportunities to maximise investment in Townsville. This includes unlocking financing for complementary projects that might be harder to fund in isolation. A workshop was held in Townsville in August 2017 to explore links between major projects (particularly the TEARC, Port expansion and SDA) and opportunities for growth in industrial development. This work is ongoing.
Q4 2017 — Completion of the TEARC Business Case.
Next steps and milestones
The Queensland Government will work with the Commonwealth Government to consider the business case findings and recommendations.
Q1/Q2 2018 — The Queensland and Commonwealth Governments to consider the business case.
Q1 2018 and ongoing — Commonwealth Government to continue working with the Queensland Government and Townsville City on identifying innovative financing and value capture opportunities.
The TEARC business case was led by the Queensland Government in collaboration with the Commonwealth Government.
The Commonwealth is leading on the broader innovative financing work, working closely with the Queensland Government and Townsville City Council.