A $3.5 billion oil refinery earmarked for Gladstone has been abandoned.
Only days before the project was going to be unveiled by Indian tycoon Pankaj Oswal alongside Anna Bligh, reports indicate Mr Oswal abruptly left Australia in December, when his flagship company, Burrup Fertilisers, was put into receivership.
Mr Oswal's oil refinery plan in Gladstone was reported to be quite advanced, with earthworks scheduled to begin in August and major construction in July next year.
Gladstone Economic and Industry development Board chairman Leo Zussino said the project was at a preliminary stage and no initial advice statement or Environmental Impact Statement (EIS) had been undertaken. “The Gladstone region attracts a lot of potential major projects like the LNG industry right through to competition and others such as this fall by the wayside,” Mr Zussino said.
The project was said to create 500 permanent jobs, another 2000 jobs during construction and have a product life of 25 years.
(Source: Gladstone Observer, 2nd March 2011)
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