BOAT BUILDER FLOATS $24M CONTRACT

BOAT BUILDER FLOATS $24M CONTRACT

ALUMINIUM Boats Australia has won a $24 million contract to build passenger ferries to transport Gladstone workers to and from the state’s LNG mines.

General manager Stuart Pascoe, says the contract could be the first of many in the public sector.

“The contract is worth $24 million to the company initially, but we anticipate there will be additional follow up contracts that haven’t been confirmed yet. It means long term, secure employment for our workforce which is currently 80, but will soon be 130, with some additional staff working on this new contract,” he says.

“The contract was two years in the making and I think what really clinched it for us was that we’re an eco-friendly company. The ferries don’t have any emissions from the vessel into the water whatsoever, the shape of the ferry makes it safe for marine life and its design is cutting edge. It’s state of the art technology that’s been developed in Queensland.”

Premier Anna Bligh says the Hemmant-based company will build three passenger ferries to transport gas workers between the port city and Curtis Island.

Bligh says the LNG industry in Queensland has the capacity to create 18,000 direct and indirect jobs while generating royalties to Queensland of more than $850 million each year within the next decade.

“The Queensland Curtis LNG and Gladstone LNG projects are worth $31 billion in capital expenditure and in total, $66 billion in LNG projects are on the table,” she says.

“By 2020, Australia will become the third largest supplier of LNG globally and Queensland produced LNG will be exported to China, Japan, Korea, Singapore and Chile.”

Aluminium Boats Australia started operations in 1999.

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

SMEs urged to consider business insurance to mitigate financial risks
Partner Content
A single “bad luck” incident could cause financial disaster for many Australian sma...
Advertisement

Related Stories

Square Peg and Atlassian co-founder Farquhar back AI startup Lorikeet in $5m seed round

Square Peg and Atlassian co-founder Farquhar back AI startup Lorikeet in $5m seed round

Sydney-based customer-experience startup Lorikeet has raised $5 mil...

Digital agency Social Garden grows its e-commerce focus with acquisition of The Natives

Digital agency Social Garden grows its e-commerce focus with acquisition of The Natives

Digital marketing agency Social Garden has acquired fellow Melbourn...

ANZ agrees to fork out $99m for two class actions as Westpac and Macquarie continue the fight

ANZ agrees to fork out $99m for two class actions as Westpac and Macquarie continue the fight

ANZ Banking Group (ASX: ANZ) has agreed to pay out a total of $99 m...

‘It makes a lot of sense’: Glen Richards takes the long view with Arbor Permanent Owners investment

‘It makes a lot of sense’: Glen Richards takes the long view with Arbor Permanent Owners investment

After spending most of his career investing with a timely exit in m...