The path for investment opportunities widens in South Australia
Posted on Tuesday, January 31 2012 at 5:53 PM
The proposed Olympic Dam expansion is becoming more and more certain, after plans were announced to expand the Stuart Highway from Olympic Dam to Port Augusta in South Australia.
Managing director
of CG Group and Leicester Management Services, Rick Treloar, says now is
the perfect time for investors to start looking – and buying – in South
Australia, before things really take off.
“Everything has
been approved, they’re waiting on BHP Billiton to give the final go ahead,” he
says.
“I think Whyalla,
Port Augusta, the whole area will take off as far as property prices are
concerned and vacancies will become less and less.”
It comes after
Minister for Mineral Resources and Energy Tom Koutsantonis announced the Stuart
Highway would undergo the most extensive upgrade in decades, a signal that
something huge is just around the corner perhaps for South Australia.
“For those
looking for evidence that the mining boom in South Australia will lead to improvements
in our state’s infrastructure, here is an excellent example,” he says.
“Funded from $25
million to be provided by BHP Billiton following the approval of the proposed
Olympic Dam expansion, this infrastructure project will assist the mining industry
in our state’s far north and provide an upgraded highway.
“We anticipate
that the Olympic Dam expansion will lead to hundreds of trucks, creating
increased traffic movements as construction material is transferred from Port
Augusta to Roxby Downs.
“Long after that
work is completed, the upgraded highway will remain, providing better access to
regional South Australia and providing economic benefits to Whyalla, Port
Augusta and Port Pirie.”
The upgrade is
part of the $1.2 billion in preliminary works and equipment contracts announced
by BHP Billiton, ahead of approval for the expansion project, which is expected
to be considered at Easter this year.
Work on the Port
Augusta north section will be followed by the Pimba south section.
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